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Exclusive: UniCredit to pay over $1 billion to settle U.S. sanctions probes - source

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By Reuters
Exclusive: UniCredit to pay over $1 billion to settle U.S. sanctions probes - source
FILE PHOTO: Unicredit bank logo is seen in the old city centre of Siena, Italy June 29, 2017. REUTERS/Stefano Rellandini/File Photo   -   Copyright  Stefano Rellandini(Reuters)

By Karen Freifeld

(Reuters) – UniCredit, Italy’s biggest lender, will pay over $1 billion (£763 million) to U.S. authorities to settle probes of violations of U.S. sanctions on Iran and other countries, a person familiar with the matter said on Monday.

The settlement will be with the U.S. Department of Justice, the U.S. Treasury Department, the Federal Reserve, the Manhattan District Attorney and the New York Department of Financial Services.

(Reporting by Karen Freifeld)