Credit Suisse to pay $2.6bn after pleading guilty to tax evasion

The US Department of Justice found the bank had been helping US citizens hide assets offshore through its Swiss private banking business. The ruling is the first time a large global bank has been found guilty of criminal charges since Daiwa Bank pleaded guilty to hiding a $1.1bn loss from regulators in 1995, according to the FT. The agreement means Credit Suisse will pay $1.8bn in fines and restitution to the US DoJ, with $715m going to New York state's Department of Financial Services and $100m to the Federal Reserve. US attorney general Eric Holder said hundreds of bank employees...