“The international dollars keep rolling in. Yet another bank has agreed to pay a fine in response to ongoing investigations into foreign accounts. Commerzbank AG, headquartered in Frankfurt, and its U.S. branch, Commerzbank AG New York Branch (called Commerz New York), have agreed to a deferred prosecution agreement which calls for, among other things, the payment of a $79 million fine within five days. That amount is said to be equal to twice the value of the transactions raised during the investigation and is “appropriate given the facts and circumstances” of the case. The bank further agrees that it will not use any part of the fine as a deduction or credit for federal, state, local, or foreign tax purposes. ‘
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