Standard Chartered Rejects Iran Business Claims

Aug. 7 (Bloomberg) -- Bloomberg's Howard Muscoe reports that Standard Chartered Plc may lose its license to operate in New York state after the Department of Financial Services found the bank conducted $250 billion of deals with Iranian banks over seven years and earned hundreds of millions of dollars in fees for handling transactions for institutions subject to U.S. economic sanctions. He speaks on Bloomberg Television's "Bloomberg Surveillance."