The bank agreed to pay $800 million in fines for the illegal financial transactions carried out in the period from 2003 to 2008 on the territory of the United States, AFP reported, referring to a source familiar with the situation.
According to previous estimations, the bank had to pay US $900 million, but the amount was reduced through the course of negotiations.
26 September 2015, 10:46 GMT
The agreement may be announced this week, the source said. The bank is expected to fully recognize its guilt in violating US laws which would help it to avoid any prosecution. According to the source, some of the bankers responsible for the offense have already been dismissed.
Last year, French bank BNP Paribas agreed to pay $8.97 billion fine for violation of the sanctions regime against Cuba, Sudan and Iran.
The difference in the amount of the fines arises from the fact that the financial transactions carried out by Credit Agricole were smaller and that the bank agreed to cooperate with the authorities in a quicker manner.