Japanese Bank Settles Lawsuit Against NYDFS In Connection With OCC Charter Conversion

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A Japanese bank agreed to pay the New York State Department of Financial Services ("NYDFS") $33 million to settle claims.
United States Finance and Banking

A Japanese bank agreed to pay the New York State Department of Financial Services ("NYDFS") $33 million to settle claims relating to the conduct occurring prior to the bank's conversion of its state-licensed branches to federally licensed branches in November 2017. For its part, the NYDFS agreed to release all claims against the Bank of Tokyo-Mitsubishi UFJ, Ltd. and will not challenge the validity of its federal licenses.

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