French Officials Twist U.S. Arms in Bank Inquiry

Facing the prospect of a guilty plea in the United States, the giant French bank BNP Paribas has enlisted the support of a powerful ally: its own government, including top regulators and even the French president.

President François Hollande recently reached out to the White House to raise concerns about a plea deal, according to people briefed on the matter, injecting a political undercurrent into a law enforcement investigation. French officials have also contacted the State Department and Treasury Departament, the people said, and made direct appeals to the authorities investigating BNP. The bank is suspected of doing business with Sudan and other countries blacklisted by the United States.

At a meeting last month in New York, state and federal prosecutors discussed the potential fallout from the BNP case with Edouard Fernandez-Bollo, a senior French banking regulator, according to the people briefed on the matter who were not authorized to discuss the private talks.

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