Credit Suisse have pleaded guilty in helping thousands of Americans evade taxes and accepted a fine of $2815 million (CHF 2510 million).
As previously reported by PBI, the US authorities will not take any additional measures that would risk driving Credit Suisse out of business in the US and will not revoke Credit Suisse’s banking license.
Brady Dougan, chief executive, said: "We deeply regret the past misconduct that led to this settlement. The US cross-border matter represented the most significant and longstanding regulation and litigation issue for Credit Suisse. We want to thank our clients and employees for their support as we continued to work through this matter and brought it to a conclusion. We can now focus on the future and give our full attention to executing our strategy."