A sign of a Credit Suisse private banking branch is seen on May 19, 2014 in Geneva, Switzerland
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Credit Suisse pleads guilty to helping 'tax cheats'

20 May 2014 Last updated at 07:47 BST

The Swiss banking giant Credit Suisse has pleaded guilty to helping some US clients avoid paying taxes to the government.

It has agreed to pay a $2.6bn (£1.5bn) fine and is the biggest bank to plead guilty to criminal charges in more than 20 years.

Credit Suisse said in a statement it deeply regretted the past misconduct.

Michelle Fleury reports.

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