- The Senate Permanent Subcommittee on Investigation is due to hold a hearing today on how Swiss banks helped American citizens dodge taxes.
- Credit Suisse (CS) will be under particular focus after the panel released a report yesterday that accused the company of opening Swiss accounts for over 22,000 U.S. customers with combined assets of up to $12B.
- Credit Suisse CEO Brady Dougan and three other top executives are set to testify, as well as two leading officials from the Department of Justice.
- Last week, Credit Suisse agreed to pay $196M in a settlement over the issue with the SEC and it admitted to wrongdoing. However, no deal is imminent with the DOJ, Reuters reports.
Senate panel to hold hearing on tax dodging; CS a focus
Feb 26 2014, 04:26 ET