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LONDON – Investors in Standard Chartered breathed a collective sigh of relief on Wednesday.
The positive reaction came after the British bank agreed to a $340 million fine related to charges that it had laundered hundreds of billions of dollars in money with Iran and lied to regulators.
The agreement ends speculation that Standard Chartered might lose its New York State banking license. The bank’s top executives had been expected to defend its actions in a hearing on Wednesday, which was postponed after the settlement was announced.
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