Swedbank Agrees To Pay $50 Mln To Settle New York DFS Investigation

Swedbank agreed to pay a $50 million settlement to New York’s DFS after failing to disclose required information on two occasions in 2016 and 2018. The action is a regulatory compliance penalty and, absent other disclosures, is likely a modest negative for sentiment rather than a fundamental deterioration.

Analysis

Swedbank agreed to pay a $50 million settlement to New York’s DFS after failing to disclose required information on two occasions in 2016 and 2018. The action is a regulatory compliance penalty and, absent other disclosures, is likely a modest negative for sentiment rather than a fundamental deterioration.