Standard Chartered, the British bank accused of illegally funneling money for Iranian banks and corporations, signed a settlement on Friday with New York State's top banking regulator, the New York Times DealBook blog reported on Friday. Bank executives agreed last month to pay $340 million to settle claims that Standard Chartered moved hundreds of billions of dollars in tainted money and lied to regulators. The final agreement allows the 150-year-old bank to move beyond its clash with Benjamin M. Lawsky and the agency he heads, the 11-month-old New York Department of Financial Services. The state regulator moved alone to accuse Standard Chartered in August of working for nearly a decade with Iran to hide from regulators 60,000 transactions worth $250 billion.
