Credit Suisse to pay $2.6B in settlement

|About: Credit Suisse Group AG (CS)|By:, SA News Editor

The DOJ states Credit Suisse (CS) will "pay a total of $2.6 billion – $1.8 billion to the Department of Justice for the U.S. Treasury, $100 million to the Federal Reserve, and $715 million to the New York State Department of Financial Services."

The final bill meshes with a Reuters report stating CS would pay "more than $2.5B."

The bank has pleaded guilty to "conspiracy to aid and assist U.S. taxpayers in filing false income tax returns and other documents with the Internal Revenue Service."

CS -0.4% AH