DAVID GREENE, HOST:
We begin NPR's business news with possible bank settlements.
(SOUNDBITE OF MUSIC)
GREENE: One of Britain's largest banks, Standard Chartered, says it expects to pay around $330 million to the United States. This would settle a case with regulators here who accused the bank of failing to comply with sanctions against Iran. Standard Chartered has already paid out $340 million to the state of New York on the same claims.
The head of the New York Department of Financial Services accused the bank of helping Iran launder money. At the same time, there are reports that European bank HSBC could end up paying a fine of nearly $2 billion to settle U.S. charges of laundering money for countries including Iran and Sudan.
NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.