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Ackerman Issues Statement on Standard Chartered Settlement with NY Regulator


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U.S. Rep. Gary Ackerman (D-NY), the top Democrat on the Foreign Affairs Subcommittee on the Middle East and South Asia and a Senior Member of the Financial Services Committee, today issued the following statement on the New York Department of Financial Services reaching a $340 million settlement with Standard Chartered Bank.

"I applaud New York DFS on their successful efforts to put the big spotlight on this dangerous illegal behavior. It should be a serious indication that this behavior will not be tolerated. As importantly, it should re-inspire federal agencies to act large and ever more aggressively in America's national security interests, especially in cases involving alleged end runs around sanctions to secretly aid Iran as they race to develop a nuclear bomb."

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