SC First Bank punished for illegal metal loan service

South Korea's financial watchdog penalized SC First Bank for its violations of local banking laws such as the illegal handling of metal loan services to corporate customers.

The Financial Supervisory Service said it will impose fines worth 4.5 million won or US$4,225 and punish 41 officials of the South Korean unit of Standard Chartered Plc after the bank violated regulations on metal lending and made other irregularities.

The full story is available at Yonhapnews.