Credit Suisse Settles French Legacy Case

(RTTNews) - Credit Suisse (CS) has reached a settlement with the Parquet National Financier to resolve a legacy matter in relation to an investigation into historical cross-border private-banking services. The bank stated that this marks another important step in the proactive resolution of litigation and legacy issues.

The company noted that the settlement provides for a public interest fine comprising a profit disgorgement of 65.6 million euros and the payment of an additional amount of 57.4 million euros. Also, Credit Suisse will pay 115 million euros to the French State.