BNP Paribas Risks $5 Billion Fine, Customer Flight
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BNP Paribas SA faces harsher treatment from U.S. authorities than Credit Suisse Group AG with a fine twice the size of the Swiss bank’s and a business prohibition that could cause loss of clients.
Regulators and prosecutors are now seeking more than $5 billion in fines and a guilty plea to criminal charges for violating U.S. sanctions, according a person with knowledge of the talks. The figure was said to be $3.5 billion last week. In addition, a temporary ban on transferring money into and out of the U.S., floated by New York’s Superintendent of Financial Services Benjamin Lawsky, is being considered.