France's largest retail bank will pay $787 million to U.S. authorities and fire one employee to avoid criminal and civil charges that it violated economic sanctions and state recordkeeping rules.
Credit Agricole SA is nearing a final deal with U.S. officials over its alleged sanctions violations, Ukrainian separatists in the country's Donetsk region are in the process of creating their own currency, and more, in this week's roundup.
Standard Chartered Bank will pay New York $300 million for anti-money laundering violations, a sum nearly 90 percent of a separate fine paid by the institution to the state in 2012 for related sanctions troubles.
A nearly $330 million deferred prosecution agreement with a London-based bank reinforces the peril financial institutions face when engaging in look-backs for possible sanctions or anti-money laundering violations.
The U.S. Treasury Department called on financial institutions Thursday to stop processing dollar transactions involving Iran, even when no American parties are involved.
Two of the most stringent of several federal bills meant to increase pressure on Iran would forbid banks from processing transactions indirectly tied to Iranian entities. The bills, H.R.1400 and S.970, jointly called the Iran Counter-Proliferation Act of 2007, would prohibit u-turn transactions.
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