Credit Suisse Is a Target of U.S. Private-Banking Tax Probe
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Credit Suisse Group AG, the second-biggest Swiss bank, is a target of a criminal investigation by the Department of Justice over former cross-border private banking services to U.S. customers.
“Subject to our Swiss legal obligations, we will continue to cooperate with the U.S. authorities in an effort to resolve these matters,” the Zurich-based bank said in an e-mailed statement today. The bank said the Justice Department said yesterday that it is a target, and it has responded to requests for information, including subpoenas.