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U.S. says Credit Suisse to pay more than $2.5 billion in penalties


    WASHINGTON (Reuters) - The U.S. Justice Department said on Monday that Credit Suisse AG would pay more than $2.5 billion in penalties as part of an agreement in which it pleaded guilty to a criminal charge of helping Americans evade taxes.

    Attorney General Eric Holder told a news conference that Credit Suisse was the largest bank to plead guilty to a criminal charge in 20 years. He said the agreement showed that no financial institution was above the law.

    (Reporting by Aruna Viswanatha; Editing by Peter Cooney)