Credit Agricole, U.S. begin sanctions talks

|About: Credit Agricole SA ADR (CRARY)|By:, SA News Editor

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.