Regulators suspend Standard Chartered Bank's dollar exchange in New York for some clients

  • by: MICHAEL VIRTANEN , Associated Press
  • Updated: August 19, 2014 - 2:15 PM

ALBANY, N.Y. — Standard Chartered Bank reached an agreement with New York regulators to pay a $300 million penalty and suspend dollar exchanges through its New York branch for high-risk retail business clients at its SCB Hong Kong subsidiary.

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