Bloomberg News

Credit Suisse’s 2009 Cease-and-Desist Action Terminated by Fed

March 15, 2012

The Federal Reserve ended a cease- and-desist enforcement action against Credit Suisse Group AG (CSGN) from December 2009, according to a statement today from the central bank.

The Fed that month had issued a consent order naming Credit Suisse AG as the Zurich-based company settled U.S. claims that it helped process payments that let Iran and other nations avoid government sanctions and gain access to U.S. financial markets.

To contact the reporter on this story: Patrick Clark in New York at pclark48@bloomberg.net.

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net.


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