Standard Chartered Sees $330 Million Iranian Settlement
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Standard Chartered Plc, Britain’s second-largest bank by market value, said it expects to pay about $330 million to settle regulators’ claims that transactions with Iranian clients violated U.S. sanctions.
Talks with U.S. authorities may conclude before the end of the year, Finance Director Richard Meddings said today on a call with journalists. After agreeing to pay $340 million to the New York Department of Financial Services on Aug. 14, the bank is still negotiating with the U.S. Justice Department, the Treasury Department, the Federal Reserve and the Manhattan District Attorney’s office, the lender said in a statement.