Credit Suisse Finalizes Multi-Billion Dollar Settlement

Credit Suisse (CS) - Get Report has finalized a multi-billion dollar settlement with the U.S. Department of Justice. The bank will pay $5.3 billion to settle claims it misled investors.

Credit Suisse had previously agreed to preliminary terms. These included $2.48 billion in fines and $2.8 billion in customer relief. That would also cause the bank to take a pretax charge of around $2 billion. These figures were unchanged in the final agreement announced by the Department of Justice.

"Credit Suisse is pleased to have reached an amicable settlement that allows the bank to put this legacy matter behind it," the company said in a statement.