Financial Business Recap: StanChart Might COUNTERSUE, Libor Banks’ New Lawsuits SUSPENDED

Here are Thursday’s top stories:

The United Kingdom’s Standard Chartered.5 (SCBFF.PK) might countersue New York State’s Department of Financial Services for damage to its reputation, subsequent to the latter’s allegations concerning the bank’s dealings in Iran, according to the Financial Times. Standard offered a settlement of $5 million for the $14 millions of transactions it agrees violated U.S. law a few months ago, but the money was turned down as the Department is considering penalties of more than $500 million.

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New lawsuits against several major banks accused of Libor misconduct, including Bank of America Corporation (NYSE:BAC), Citigroup Inc. (NYSE:C), HSBC Holdings PLC (NYSE:HBC), and UBS AG (NYSE:UBS), were suspended Wednesday by United States District Judge Naomi Buchwald, so that she can settle any motions to dismiss on other cases.

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