Bank Leumi Said to Be Near $400 Million US Tax Settlement
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Bank Leumi Le Israel BM is close to a $400 million settlement of federal and state investigations into whether it helped Americans evade taxes, according to a person with knowledge of the matter.
Under the proposed accord, Bank Leumi would pay about $270 million to the Justice Department and $130 million to New York’s Department of Financial Services, said the person, who asked not to be identified because the talks aren’t public.