BNP Paribas SA (BNP)’s settlement talks with the U.S. over sanctions violations have headed out of the ballpark, compared with previous punishments levied by the Obama administration in such cases.

The U.S. has been said to seek more than $5 billion or even $10 billion during talks in the past month -- a penalty higher than the combined $4.9 billion levied against 21 other banks for transactions tied to sanctioned countries since President Barack Obama took office...

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