Credit Suisse reaches settlement with New York, pre-tax charge $135 millionStaff Writer | November 14, 2017
Credit Suisse announced that it has reached a settlement with the New York Department of Financial Services (DFS) related to the conduct of its Foreign Exchange (FX) Rates business.
Banking Foreign Exchange Rates business
Credit Suisse does not admit to any findings of fact and the resolution does not involve any fraud-based violations. The consent order reflecting the agreement resolves all matters.
Credit Suisse is pleased to have reached a settlement with the DFS that allows the bank to put this matter behind it.
Credit Suisse will take a pre-tax charge of approximately $135 million. This charge will be taken in its 4Q 2017 financial results, which will be announced on February 14, 2018. ■