“State and federal authorities have begun settlement talks with Commerzbank, Germany’s second-largest lender, over the bank’s dealings with Iran and other countries blacklisted by the United States. The contours of a settlement are expected to include at least $500 million in penalties for Commerzbank. The bank would most likely face a so-called deferred prosecution agreement, which would suspend criminal charges in exchange for the financial penalty and other concessions. A potential deal with Commerzbank, 17 percent owned by the German government, is expected to pave the way for a separate settlement with Deutsche Bank, Germany’s largest bank.”
http://dealbook.nytimes.com/2014/07/07/u-s-scrutiny-for-banks-shifts-to-commerzbank-and-germany/
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