Recent news reports indicate that Commerzbank, a German bank, is in negotiations with US authorities, including the Department of Justice, the Treasury Department, the Federal Reserve, the New York County District Attorney’s Office and the New York State Department of Financial Services. According to these news reports, the alleged misconduct involves dealings with Iran and the Islamic Republic of Iran Shipping Lines, as well as other countries subject to US sanctions. The settlement agreement may be completed this summer, with a settlement payment currently expected to be between $500 and $800 million.

It has also been reported that US authorities are investigating Italy's UniCredit SpA, France's Credit Agricole SA and Société Générale, and Germany's Deutsche Bank AG for alleged sanctions violations.

Reuters Article

Wall Street Journal Article