Credit Suisse fined $135 million over unfair forex practices
Manaya Bagga, 14 November 2017
Credit Suisse has agreed to pay $135 million to resolve a probe of misconduct in its foreign exchange business. New York’s banking regulator Department of Financial Services (DFS) said Credit Suisse improperly shared information to manipulate currency prices and benchmark rates, and deceived customers to enhance its profits. The bank engaged in “unsound conduct” from 2008 to 2015, DFS added.
