Generations after the Holocaust, Congress still seeking answers on bank’s ties to Nazi crimes
A 1999 settlement in U.S. court prompted Credit Suisse and UBS to pay $1.25 billion to Holocaust victims whose stolen assets had not been returned. But bankers are still dealing with the fallout of the Third Reich’s actions more than 80 years after its collapse. An April court ruling in New York also left open the chance for litigation over Credit Suisse’s Nazi-linked accounts.
- ▪A 1999 settlement in U.S. court prompted Credit Suisse and UBS to pay $1.25 billion to Holocaust victims whose stolen assets had not been returned.
- ▪But bankers are still dealing with the fallout of the Third Reich’s actions more than 80 years after its collapse.
- ▪An April court ruling in New York also left open the chance for litigation over Credit Suisse’s Nazi-linked accounts.
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The Swiss financial firm UBS faces persistent Senate questioning and the chance of new lawsuits over Nazi-era bank accounts.Senators and activists have sought accountability since the 1990s from Credit Suisse, a Swiss bank UBS acquired in 2023, on how it facilitated Nazi clients’ thefts from Jews and post-World War II escape plans. A 1999 settlement in U.S. court prompted Credit Suisse and UBS to pay $1.25 billion to Holocaust victims whose stolen assets had not been returned. But bankers are still dealing with the fallout of the Third Reich’s actions more than 80 years after its collapse.
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