Credit Agricole has agreed to pay a fine to the US of nearly $800mio for violating sanctions and handling some $32 billion of illegal financing transactions for Iran, Sudan, Cuba, Burmese, and Myanmar. The NY based agency leading the charge here was the DFS, who is empowered to revoke the bank's US banking charter.
Other firms which have been assessed charges include BNP Paribas, CS, Barclays, and others, though the charges against BNP last year were particularly more painful at some $9bio and a banning of certain USD clearing privileges. Such fines further underscores the current leverage of the DFS and US authorities have in enforcing US laws in global banking arrangements. Further information on this fine can be found here http://www.bbc.co.uk/news/business-34578865.
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