StanChart (SCBFF.PK) is considering countersuing New York's Department of Financial Services for...

|By:, SA News Editor

StanChart (SCBFF.PK) is considering countersuing New York's Department of Financial Services for reputational damage following the latter's allegations about the bank's dealings in Iran, the FT reports. Several months ago, StanChart offer to pay a $5M fine for the $14M of transactions it agrees violated U.S. law but was rebuffed; the DFS is eyeing penalties of over $500M.