Aug 07 2012
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StanChart rejects DFS claims on Iran dealings
LONDON, Aug 7 (Reuters) - Standard Chartered strongly rejected the portrayal of its handling of Iran-related transactions by New York's top bank regulator, which branded the British bank a "rogue institution".
The New York State Department of Financial Services (DFS) has threatened to strip Standard Chartered of its state banking license, saying the British bank hid $250 billion in transactions tied to Iran, in violation of U.S. law.
(Reporting by Rhys Jones; editing by Paul Sandle)
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