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Fed terminates 2014 enforcement actions against France's BNP for sanctions issues

Published 06/02/2024, 16:03
Updated 06/02/2024, 16:05
© Reuters. FILE PHOTO: A view of a BNP Paribas bank building in Paris, France, February 24, 2023. REUTERS/Sarah Meyssonnier/File Photo

© Reuters. FILE PHOTO: A view of a BNP Paribas bank building in Paris, France, February 24, 2023. REUTERS/Sarah Meyssonnier/File Photo

WASHINGTON (Reuters) - The Federal Reserve announced Tuesday that it had lifted a pair of 2014 enforcement actions it imposed on France's BNP Paribas (EPA:BNPP), after the bank overhauled its compliance with U.S. sanctions laws.

The penalties were imposed as part of a sweeping $9 billion settlement over charges the bank helped black-listed countries evade U.S. sanctions. The enforcement actions subjected the bank to intensive oversight from authorities.

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