Credit Suisse Caught Up In DOJ Private Banking Probe

Law360, Washington (July 15, 2011, 12:21 PM EDT) -- Credit Suisse AG said Friday that the U.S. Department of Justice had targeted it as part of an investigation into the private banking sector, focusing on cross-border services it provided to U.S. clients.

The bank received a letter from the DOJ Thursday saying it was a target of the investigation, for which Credit Suisse has been responding to requests for information, including subpoenas, according to the bank.

“It has been reported that the U.S. authorities are conducting a broader industry inquiry,” Credit Suisse said. “Subject to...
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