Otherwise, it will automatically lose that privilege after its August 12 sentencing. Under pressure from prosecutors, the Federal Reserve Bank of New York and the Securities and Exchange Commission have already shown the bank some leniency.
The Labor Department, which oversees $7.9tril in pensions, “is not a rubber stamp', said Michael Trupo, a spokesman. 'This is a very serious matter, and we are closely monitoring the situation'. Credit Suisse declined to disclose the amount of public and private pension assets that could be affected by the ruling.
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