The Traderszone Network

Published in TZ Latest News 9 June, 2015 by The TZ Newswire Staff

U.S. and Swiss banks Société Générale, Berner Kantonalbank reach resolution

WASHINGTON/ZURICH, June 9 (Reuters) – Swiss banks Société Générale Private Banking SA and Berner Kantonalbank AH have agreed to pay the United States multimillion-dollar penalties under a resolution announced on Tuesday by the U.S. Justice Department. Under the department’s Swiss Bank Program, Société Générale will to pay a nearly $17.81 million penalty and Berner Kantonalbank will pay a nearly $4.62 million penalty, U.S. Justice Department officials said in a statement.

read more