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U.S. Charging Credit Suisse, BNP Paribas

Two of the world’s largest banks, BNP Paribas and Credit Suisse, are facing criminal charges from U.S. prosecutors, reports The New York Times. The prosecutors are going after the banks for allegedly creating tax shelters (Credit Suisse) and for dealings in countries blacklisted by the U.S. (BNP Paribas). The prosecutors expect the charges could bring about the first guilty pleas from major banks in more than two decades.