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Credit Suisse Payment to Germany Could Speed U.S. Settlement
By Brian Monroe
printCredit Suisse Group AG's $205 million settlement with Germany over allegations that it aided tax evaders is likely to speed up its negotiations with U.S. officials looking into similar violations. The Swiss bank disclosed the settlement with Dusseldorf's Public Prosecutor's Office in an e-mail Monday, characterizing the deal as the avoidance of a "complex and prolonged legal dispute." Germany had launched investigations into Credit Suisse employees after obtaining data on at least 1,100 Germans who allegedly used the bank's accounts to hide taxable assets. U.S. investigators stand to benefit from any cooperation with Germany by the bank because German officials...
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