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Credit Suisse Says it Will Pay $536 Million to Settle Sanctions Violations
printCredit Suisse AG will pay $536 million as part of an agreement to settle charges that it provided banking services to entities that were the subject of U.S. economic sanctions, according to a statement released by the bank today. Credit Suisse is in advanced settlement discussions with the New York County (Manhattan) District Attorney's Office, the United States Department of Justice, the Federal Reserve, the Federal Reserve Bank of New York, and the Office of Foreign Assets Control, according to the statement. Settlement discussions relate to a previously announced investigation into U.S. dollar transactions by Credit Suisse and other banks...
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