Commerzbank to Pay $1.45 Billion to Resolve U.S. Claims

Commerzbank AG agreed to pay $1.45 billion to settle multiple U.S. investigations, closing the door on half a decade of legal woes over sanctions violations claims and its role in one of Japan’s biggest accounting scandals.

The bank entered into a deferred-prosecution agreement with the Justice Department and agreed to pay penalties to almost a half-dozen government agencies, including the Manhattan District Attorney, the Federal Reserve and the Treasury Department, according to statements from U.S. enforcement authorities Thursday.