Swedish multinational banking group Swedbank announced a settlement on Thursday with the New York State Department of Financial Services (DFS) requiring it to pay $50 million for failure to disclose information in 2016 and 2018 to the regulator.
The settlement marks the end of all investigations into Swedbank's historical shortcomings, the bank said.
"The DFS investigation has involved conduct from almost a decade ago. We can now put it behind us," Jens Henriksson, president and chief executive of Swedbank, said.
The Stockholm-based banking group added that the amount payable to the authority will be recognized as a third quarter cost.
