Bloomberg: Commerzbank near settlement with DOJ

• Commerzbank (OTCPK:CRZBY) will pay nearly $1.5B to avoid criminal prosecution by settling with a number of government agencies this week, according to Bloomberg. Additionally, the NY Dept. of Financial Services will require the installation of a monitor and the resignation of some senior executives.
• At issue are investigations into sanctions violations and the bank's role in the accounting fraud at Japan's Olympus Corp.