It's tough at the top.
Credit Suisse could plead guilty as early as today to resolve U.S. accusations that it conspired to help Americans evade taxes, according to a person familiar with the matter.
Bloomberg News reports that the bank has reached an agreement to plead guilty and pay about $2.5bn to the U.S. Justice Department and regulators, said two people, who requested anonymity because the matter isn’t public.
Credit Suisse will be allowed to continue operating in the U.S., the people said. It’s unclear how the market will react and whether a plea will affect the bank’s ability to do business. Goldman Sachs CEO Lloyd C. Blankfein said that while dealing with a firm that has pleaded guilty to a crime may raise issues involving credit and reputational risk, his company is mindful of the stability of the financial system.
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