Credit Agricole's U.S. Deferred Prosecution Agreements End
October 22 2018 - 3:03AM
Dow Jones News
By Donato Paolo Mancini
Credit Agricole SA's (ACA.FR) Corporate and Investment Bank has
fully complied with deferred prosecution agreements reached with
U.S. authorities relating to economic sanctions, and those
agreements have now expired, the bank said Monday.
The French bank said it entered into agreements in October 2015
with the U.S. Attorney's Office for the District of Columbia and
the New York County District Attorney's Office. The agreements
related to U.S.-dollar transactions processed by the CIB between
2003 and 2008 that were subject to U.S. economic sanctions and
certain New York state laws.
The bank has met all the requirements of the agreements and
these are now expired, it said, adding that it is pleased both
offices have recognized the improvements made by the subsidiary to
its sanctions compliance program.
Credit Agricole said it is committed to continuing reinforcing
its internal procedures and controls regarding international
sanctions law.
Write to Donato Paolo Mancini at
donatopaolo.mancini@dowjones.com; @donatopmancini
(END) Dow Jones Newswires
October 22, 2018 02:48 ET (06:48 GMT)
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