Exclusive: As Bank Fines Soar, U.S. Threatened $16 Billion BNP Penalty
U.S. authorities negotiating with BNP Paribas over alleged sanctions violations at one point suggested that France’s biggest bank pay a penalty as high as $16 billion, according to people familiar with the matter. A $16 billion settlement would have pushed BNP’s penalty above the biggest ever for a bank — JPMorgan Chase & Co, which paid $13 billion last year to resolve a number of civil mortgage-related allegations. U.S. authorities are probing whether BNP evaded U.S.
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