Seeking Alpha

Credit Agricole, U.S. begin sanctions talks

  • Credit Agricole (OTCPK:CRARY) says it is beginning to discuss its potential sanctions violations with U.S. authorities, and has sent the latter the results of its internal review.
  • The negotiations begin only one month after French bank BNP Paribas was hit with a ban on certain dollar clearing activities and a $8.9B fine for violating U.S. sanctions.
  • Credit Agricole gave no details about its litigation provisions, but says it considers them adequate.
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