Dubai - Mubasher: Mashreq Bank has reached settlements with US regulators over alleged conduct which involved US dollar transactions that happened over a decade ago.
The settlements were reached with the New York Department of Financial Services (DFS), the Office of Foreign Assets Control of the United States Department of the Treasury (OFAC), and the Federal Reserve Board, and the Federal Reserve Bank of New York, according to a bourse filing on Wednesday.
Under the terms of the settlements, the bank will pay a penalty of $100 million to DFS.
The OFAC and Federal Reserve settlements do not include any fine.
