BNP Paribas To Pay Record $8.9 Billion Fine To U.S.

A photo taken on June 24, 2014, in Lille, northern France shows the logo of the French bank BNP Paribas, which is being fined a record $8.9 billion for violating international sanctions.  (Philippe Huguen/AFP/Getty Images)

France’s largest bank, BNP Paribas, has pleaded guilty to criminal charges connected with violating U.S. sanctions against Sudan, Cuba and Iran. The bank has agreed to pay a record $8.9 billion fine to the United States.

Wall Street Journal reporter Jason Bellini tells Here & Now’s Robin Young that this is part of a strategy by the Justice Department that’s expected to try to charge other major banks for evading American sanctions.

Guest

Copyright 2014 WBUR-FM. To see more, visit http://www.wbur.org.