Weekly Roundup: Credit Suisse Discloses It’s the Target of Tax Evasion Probe, OTS Stops Regulating and More

The U.S. Justice Department Thursday officially disclosed its rumored investigation into whether Credit Suisse Group AG helped American clients cheat the tax man. The bank received a letter from the department Thursday informing it of the probe, which had been suspected since February, when federal prosecutors said in the indictment of four former Credit Suisse bankers that the financial institution once held $3 billion in undeclared, American assets, Bloomberg reported. The investigation into Switzerland's second largest bank follows the deferred prosecution agreement with the country's largest, UBS, which paid $780 million over similar allegations. More Friday marks the last day...