2023-12-04 22:13:25
Credit Suisse has reinstated an independent reviewer to oversee the investigation into services offered to Nazi clients and Nazi-linked accounts, according to U.S. lawmakers looking into the matter.
Credit Suisse has agreed to reinstate Neil Barosky, who was removed as ombudsman to oversee the bank’s internal investigation, Chuck Grassley and Sheldon Whitehouse of the Senate Budget Committee said in a joint statement.
WHAT TO THINK
The reinstatement comes after the Senate committee said the Swiss bank obstructed a years-long investigation into allegations by a human rights organization that the bank held potential Nazi-linked accounts. The lawmakers’ investigation found that the bank “inexplicably fired” Mr. Barofsky.
THE QUOTE
“A lucid and historically comprehensive assessment of Credit Suisse’s handling of accounts linked to Nazism requires that the painful facts be addressed head-on, not brushed aside,” the lawmakers said in their statement.
THE ANSWER
UBS, which bought Credit Suisse this year, and Barofsky did not immediately respond to requests for comment.
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