Commerzbank : US Authorities in Settlement Talks on Iran-NYT

U.S. state and federal authorities are in settlement talks with Commerzbank AG (>> Commerzbank AG) regarding the German bank’s dealings with Iran and other U.S.-blacklisted countries, the New York Times said Tuesday, citing sources.

While talks are at an early stage, a settlement is likely to include at least $500 million in penalties, people briefed on the matter tell the newspaper. Commerzbank will probably avoid criminal charges in exchange for penalty payments and other concessions, the newspaper said.

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