Credit Suisse violated 2014 plea deal with U.S. authorities, Reuters reports

The U.S. Senate Finance Committee found on Wednesday that Credit Suisse (CS) was in violation of a 2014 plea deal with U.S. authorities by continuing to help ultra-wealthy Americans evade taxes and hiding more than $700M from the government, Reuters’ Tommy Reggiori Wilkes, Stefania Spezzati, and Mrinmay Dey report. The committee said it has uncovered "major violations" of the agreement between Credit Suisse, which this month agreed to be taken over by UBS (UBS), and the DOJ for enabling tax evasion, and called on UBS or the Swiss government to assume responsibility for any future fines. In an emailed statement, Credit Suisse said it did not tolerate tax evasion and had been cooperating with U.S. authorities. Reference Link