BNP Paribas in hot water again

|About: BNP Paribas ADR (BNPZY)|By:, SA News Editor

After agreeing to an $8.9B fine last month for U.S. sanctions violations, BNP Paribas (OTC:BNPZY) has come under the spotlight again - this time with the U.S. Department of Agriculture.

A Federal court has entered an $80M judgment against the bank for cheating a program which covers the losses of American commodities exporters in cases where their import partner failed to make a payment.

BNP Paribas is accused of guaranteeing credit for companies known to be operating both the export and import side of the business.