Credit Suisse to Face Nader at Labor Department Hearing

The U.S. Labor Department will give an unlikely procession of speakers -- including a relative of Holocaust victims and consumer activist Ralph Nader -- a rare platform Thursday to tell federal regulators why it’s time to banish misbehaving banks from lucrative businesses.

The critics are expected to press Labor to reject Credit Suisse Group AG’s request for an exemption from regulatory sanctions, a decision that would effectively ban the bank from managing U.S. pension funds. Switzerland’s second-largest bank pleaded guilty in the U.S. last year to helping thousands of Americans evade taxes. To stay in the pension business, it needs a waiver from the Labor Department.