Bulletin: Credit Suisse Group AG's AML Agreement With U.S. Regulators Should Not Result In Any Business Or Reputational Damage - S&P Global Ratings’ Credit Research

Bulletin: Credit Suisse Group AG's AML Agreement With U.S. Regulators Should Not Result In Any Business Or Reputational Damage

Bulletin: Credit Suisse Group AG's AML Agreement With U.S. Regulators Should Not Result In Any Business Or Reputational Damage - S&P Global Ratings’ Credit Research
Bulletin: Credit Suisse Group AG's AML Agreement With U.S. Regulators Should Not Result In Any Business Or Reputational Damage
Published Dec 23, 2020
2 pages (1149 words) — Published Dec 23, 2020
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Abstract:

FRANKFURT (S&P Global Ratings) Dec. 23, 2020--S&P Global Ratings today said that U.S. regulators' enforcement action against Credit Suisse Group AG (CSG; BBB+/Stable/--) demonstrates their continuous attention on anti-money laundering (AML) risks and compliance, but we do not anticipate any business or reputation damage to the group. CSG announced an agreement with the Federal Reserve Bank of New York and the New York State Department of Financial Services on Dec. 22, 2020, to address AML compliance function deficiencies, mainly at Credit Suisse AG's New York Branch and other U.S. group entities. The regulators did not impose any fine on CSG or any restrictions on its business. Under the agreement, we understand CSG has 90 days to deliver a comprehensive plan

  
Report Type:

Bulletin

Ticker
CSGN@VX
Issuer
Credit Suisse Group AG
GICS
Diversified Capital Markets (40203030)
Sector
Global Issuers
Country
Switzerland
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "Bulletin: Credit Suisse Group AG's AML Agreement With U.S. Regulators Should Not Result In Any Business Or Reputational Damage" Dec 23, 2020. Alacra Store. May 12, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Credit-Suisse-Group-AG-s-AML-Agreement-With-U-S-Regulators-Should-Not-Result-In-Any-Business-Or-Reputational-Damage-2574221>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: Credit Suisse Group AG's AML Agreement With U.S. Regulators Should Not Result In Any Business Or Reputational Damage Dec 23, 2020. New York, NY: Alacra Store. Retrieved May 12, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Credit-Suisse-Group-AG-s-AML-Agreement-With-U-S-Regulators-Should-Not-Result-In-Any-Business-Or-Reputational-Damage-2574221>
  
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