Authorities Negotiate With BNP Paribas Over Alleged Sanction Violations

News: The US authorities have reportedly been negotiating with French lender BNP Paribas over alleged sanction violations, with estimations at one point suggesting the bank might pay around USD16bn as a penalty. In 2013, JPMorgan Chase & Co paid USD13bn to resolve a number of civil mortgage-related allegations. More recently, the authorities have been discussing a settlement with BNP in the USD10bn range. The New York State Department of Financial Services, one of the five entities negotiating the settlement with BNP, could receive at least USD2bn of an eventual USD10bn deal.

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Geography: United States

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