Investigation Finds Credit Suisse Had Wider Nazi Ties Than Previously Known
Lawyer scrutinizing bank archives set to testify before Senate on Tuesday
The findings come years after Credit Suisse paid hundreds of millions of dollars in settlements related to its handling of dormant accounts belonging to Holocaust victims. The new research suggests the bank's wartime connections extended beyond what earlier investigations revealed.
Credit Suisse, which is now part of UBS following its 2023 rescue acquisition, has faced decades of scrutiny over its World War II-era conduct. The upcoming Senate testimony is expected to detail specific new findings from the archival research.
The revelations could reignite debates about accountability for financial institutions that profited during the Nazi era and whether adequate restitution has been made to victims' descendants.
Analysis
Why This Matters
Historical accountability for institutions that benefited from Nazi-era activities remains a sensitive and unresolved issue.
Background
Swiss banks faced major lawsuits in the 1990s over Holocaust-era accounts, leading to billion-dollar settlements.
Key Perspectives
Survivors' advocates argue that full transparency has never been achieved; banks say they have cooperated with investigations.
What to Watch
Tuesday's Senate testimony and whether it prompts new calls for accountability from UBS.