Economics
Credit Agricole Said to Pay Up to $1 Billion in Sanctions Probe
- U.S. settlement over Iran, Sudan controls seen in coming weeks
- Accord said to involve deferred-prosecution agreement
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Credit Agricole SA is poised to pay as much as $1 billion to U.S. regulators to settle allegations that it violated U.S. sanctions aimed at Iran and Sudan, according to a person briefed on the matter.
Negotiations between the French bank and U.S. regulators continue and the total amount isn’t final, the person said. The settlement would involve a deferred-prosecution agreement with the Justice Department and could come within weeks, according to the person, who asked not to be identified because the discussions are private.