Exclusive: Credit Agricole may pay about $900 million in U.S. sanctions probes – source

France’s Credit Agricole SA (>> CREDIT AGRICOLE) is nearing an agreement to pay about $900 million to resolve investigations into whether it illegally moved funds through the United States for blacklisted individuals and countries such as Sudan and Iran, according to a person familiar with the matter.

Talks are ongoing and the total penalty, negotiated by multiple U.S. agencies, could change. A second source described the current settlement as in the “high hundreds of millions” and suggested it could reach a $1 billion.

The bank, France’s third-largest listed lender, is expected to reach an accord as soon as this month, the two people said.

Read on.

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