By Kevin Cirilli - 06/04/14 03:47 PM EDT
House Foreign Affairs Committee member Brad Sherman (D-Calif.) said Wednesday that it would be "appropriate" for federal officials to file criminal charges against BNP Paribas, which has been under investigation for doing business with countries blacklisted by the U.S., including Iran.
The French bank is reportedly finalizing a settlement deal with U.S. authorities.
"Based on the allegations against the bank in this case, criminal charges against BNP Paribas would be appropriate. BNP Paribas is not the first large bank to be accused of violating U.S. or international sanctions, and unfortunately may not be the last," Sherman said.