Crédit Agricole Penalized $787 Million Over Iran, Sudan Sanctions Violations

Crédit Agricole will pay nearly $800 million to settle charges related to business dealings in Iran, Sudan, Myanmar and other sanctioned countries between 2003 and 2008. Over that period, U.S. financial regulators say the French bank's New York branch processed more than $32 billion in illegal payments routed through global branches from Hong Kong to Paris.