Credit Suisse Plea Looms as U.S. Said to Reassure Banks
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With Credit Suisse Group AG poised to become the first bank in more than a decade to admit to a crime in the U.S., regulators have been reaching out to some of the firm’s biggest business partners to avert a panic, according to a person briefed on those communications.
The bank reached a deal to plead guilty as early as today to resolve claims it helped Americans evade taxes and will pay about $2.5 billion to the Justice Department and regulators, said a person familiar with the matter, requesting anonymity because the details aren’t public.