The Traderszone Network

Published in TZ Latest News 10 July, 2014 by The TZ Newswire Staff

Commerzbank may pay $600-$800 million to settle U.S. probe

By Karen Freifeld NEW YORK (Reuters) – German lender Commerzbank AG is expected to pay between $600 million and $800 million to resolve investigations into its dealings with Iran and other countries under U.S. sanctions, sources familiar with the matter said. Other U.S. authorities, including the Department of Justice, the Treasury Department, the Federal Reserve and the Manhattan District Attorney, are also involved in the talks. Among the violations being investigated are Commerzbank’s transactions for the Islamic Republic of Iran Shipping Lines, one of the sources said.

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