Even for a bank, $787 million is a big penalty. But in many ways, the deal that lawyers from Skadden, Arps, Slate, Meagher & Flom on Tuesday secured for Crédit Agricole SA for sanctions violations was a good one.
For one thing, Crédit Agricole got off with a deferred prosecution agreement for doing business with entities in Sudan and other blacklisted countries. Fellow French bank BNP Paribas was forced to plead guilty at the parent- company level to criminal wrongdoing for similar conduct last year.
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