New York State’s banking regulator is probing whether Credit Suisse’s private banking practices resulted in the evasion of state taxes.
New York state Department of Financial Services superintendent Benjamin Lawsky is said to have sent the Swiss bank a demand for documents last month.
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In addition, Lawsky reportedly also petitioned the US Senate’s Permanent Subcommittee on Investigations for material compiled by the panel during its investigation into the bank’s private banking and wealth management business.
Credit Suisse last week set aside an additional CHF468 million (US$527.8 million) to settle an ongoing US criminal probe into whether the bank helped wealthy US citizens dodge taxes.
A spokesman for Credit Suisse declined to comment.
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