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Credit Suisse

Too Big To Punish

Why won’t the Obama administration stand up to white collar crime?

September 19, 2014

Credit Suisse Posts Heavy Loss After U.S. Tax Fine

Zurich (AFP) – Credit Suisse posted an unexpectedly big net second-quarter loss on Tuesday as a huge U.S. tax evasion fine sent it deep into the red. The bank revealed a negative figure of 700 million Swiss francs (576 million euros, $778 million). The Swiss banking giant paid a $2.6 billion settlement to U.S. authorities […]

July 22, 2014

U.S. In Another Probe Of Credit Suisse: Report

New York (AFP) – Credit Suisse is under investigation in the United States to determine if it allowed traders use its network for improper transactions, the Wall Street Journal reported Thursday. The Financial Industry Regulatory Authority, Wall Street’s self-regulator, is looking into the activities of several traders who may have used sophisticated computer programs improperly, […]

May 22, 2014

Goldman Sachs Fears Risks If Rivals Plead Guilty

New York (AFP) – The head of U.S. bank Goldman Sachs has warned that guilty pleas from rivals BNP Paribas and Credit Suisse, under legal proceedings in the United States, could hurt the financial system. The two European banks, under probes for violating U.S. sanctions and abetting tax evasion, are potentially facing very heavy fines […]

May 18, 2014

U.S. Attorney General Talks Tax Evasion With Swiss Counterpart

Washington (AFP) – U.S. Attorney General Eric Holder met with his counterpart from Switzerland as investigators crack down on Swiss banks that help U.S. customers avoid paying taxes. U.S. officials were tight-lipped about the content of the meeting between Holder and Eveline Widmer-Schlumpf, but told AFP that the U.S. probe into the Credit Suisse bank […]

May 4, 2014

U.S. Suit Alleges 12 Banks Colluded In Huge Forex Market

New York (AFP) — A dozen banking giants have been sued in New York for allegedly fixing global foreign exchange rates in the latest ripple to accompany government probes of the huge market. The defendants in the class-action lawsuit, which include BNP Paribas and JPMorgan Chase, shared confidential information during private online chat sessions to […]

April 1, 2014