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BNP Paribas and Credit Suisse: Everything’s Negotiable

  On Monday, France’s largest bank, BNP Paribas S.A., agreed to plead guilty in state and federal court to charges brought by the U.S. Department of Justice for violations of the International Emergency Economic Powers Act, and by the New York County District Attorney’s Office for related charges. As part of a settlement with multiple […]

“Too Big to Jail?” Don’t Count on a DPA

After the criminal prosecution of Arthur Andersen in 2002, which decimated the storied accounting firm, the Justice Department seemed to shelve its indictment power in favor of deferred prosecutions—at least, where large companies were concerned. The reasoning was simple. A criminal indictment, or a guilty plea, would spell the end for a bank or a […]