Big Banks that Avoided Prosecution May Still Be Charged


Two years after avoiding prosecution for a variety of crimes, some of the world's biggest banks are suspected of having broken their promises to behave, reports the New York Times. A mixture of new issues and lingering problems could violate settlements that imposed new practices and fines on the banks but stopped short of criminal charges. Prosecutors are exploring whether to strengthen the earlier deals or scrap them and force the banks to plead guilty to a crime.

Prosecutors in Washington, D.C., and New York City have reopened an investigation into Standard Chartered, a big British bank that reached a 2012 settlement over accusations it transferred billions of dollars for Iran and other nations blacklisted by the U.S. New York State's banking regulator is taking a fresh look at old cases, reopening a 2013 settlement with the Bank of Tokyo-Mitsubishi UFJ over accusations that the bank's New York branch did business with Irany.

Comments are closed.