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Credit Suisse guilty plea has little immediate impact as shares rise

Reuters  |  WASHINGTON/NEW YORK/ZURICH 

By Katharina Bart, Karen Freifeld and Aruna ViswanathaWASHINGTON/NEW YORK/ZURICH (Reuters) - Credit Suisse saw little immediate impact on Tuesday after it became the largest bank in decades to plead guilty to a U.S. criminal charge and will pay more than $2.5 billion in penalties for helping Americans evade taxes.The bank's guilty plea resolves its long-running dispute with the United States over the probe and marks a rare criminal indictment for a major financial institution.The Justice Department has not often pursued such convictions for fear they could destabilize large financial firms ...

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First Published: Wed, May 21 2014. 02:33 IST
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