BNP Paribas Risks Customer Flight as Dollar-Transfer Ban Looms

TAMAR FRANKELBloomberg
Tamar Frankel, School of Law

Credit Suisse Group AG (CSGN) emerged from a guilty plea this week relatively unscathed. The punishment that prosecutors are now holding over BNP Paribas SA (BNP)’s head could have more severe consequences…

Expert quote:

“If everybody in the corporation lives happily thereafter following a guilty plea, we’ve done nothing. You want the corporation to live, but you also want people inside the corporation to behave well. So you need to hold people responsible. You don’t have to jail them, but you need to make them pay with their jobs.”

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