LATEST NEWS : 2 Banking Giants Implore U.S. Authorities to Go Easy

Two of the world’s biggest banks, facing the threat of criminal charges, are mounting final bids for leniency.

To avoid the fallout from pleading guilty — no giant bank has done so in more than two decades — BNP Paribas and Credit Suisse made last-ditch appeals to prosecutors and regulators in recent weeks, according to people briefed on the talks. The private meetings came after prosecutors sought guilty pleas from the parent companies of both banks: BNP of France over doing business with countries like Sudan that the United States has blacklisted, and Credit Suisse for offering tax shelters to wealthy Americans.

continue reading at dealbook.nytimes.com

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