In advance of the Department of Labor’s (DOL) historic hearing on Credit Suisse’s petition to continue managing certain assets following a criminal conviction, Congresswoman Maxine Waters (D-CA), who requested the hearing, commended the Department and urged it to deny the bank’s waiver. At the rare public hearing, Credit Suisse’s affiliated qualified professional asset managers (QPAMs)… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, released the following statement in reaction to the announcement that the Department of Labor (DOL) will grant a hearing  to examine its proposal to waive sanctions imposed on Credit Suisse. Credit Suisse recently pled guilty for conspiring to aid tax evasion. In October, Waters joined… Read more »

The U.S. Labor Department faces Capitol Hill pressure to think twice before letting Credit Suisse Group AG (CSGN) continue managing pension-fund assets after it helped Americans evade taxes.  Congressional Democrats Maxine Waters, Stephen F. Lynch and George Miller sent a letter to the department yesterday asking it to “seriously consider” whether the bank deserves a waiver it… Read more »

Three House Democrats are urging the Labor Department to reconsider its proposed waiver of sanctions on Credit Suisse following its guilty plea over tax evasion charges. Reps. Maxine Waters (Calif.), ranking member of the Financial Services Committee, George Miller (Calif.), ranking member of the Education and the Workforce Committee and Stephen Lynch (Mass.) called for a “thorough and… Read more »

House Democrats today called for a hearing to question whether the Labor Department should allow Credit Suisse, the Swiss banking giant that settled tax evasion crimes with the government in May, to continue doing business in the United States. Because Credit Suisse pleaded guilty, the bank needs a waiver from the Labor Department to continue its asset management services for pension… Read more »

Today, three prominent members of the House of Representatives expressed serious concern with, and called for a hearing to examine, a proposal by the Department of Labor to waive sanctions imposed on Credit Suisse stemming from its guilty plea for conspiring to aid tax evasion for over two decades.  In a strongly-worded letter to Labor Secretary Thomas Perez, Reps. Maxine Waters… Read more »