N.Y. Settles Standard Chartered Probe For $340 Million
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Standard Chartered Plc settled a New York money laundering probe for $340 million a day before the bank was to appear at a hearing to defend its right to continue operating in the state. It still faces federal probes over allegations it helped Iran funnel money through the U.S.
Regulators including the U.S. Treasury, the Federal Reserve Bank, the Justice Department and the Manhattan District Attorney declined attempts at a global settlement, a person familiar with the matter said. September will be the earliest such a global deal is possible, said the person, who declined to be identified because the matter is private.