Credit Suisse has another legal case off the table.
The major Swiss bank settles a case of suspected tax fraud and money laundering in France by settling with prosecutors, a court hearing in Paris revealed on Monday.
Credit Suisse agreed to pay a fine of 238 million euros to end the investigation in France.
The court has yet to approve the settlement.
The institute was accused of helping customers avoid paying taxes in France and causing tax damage of over 100 million euros.
The bank is likely to get away cheaper than its rival UBS.
In December 2021, a French court of appeal found the largest Swiss bank guilty of illegal financial transactions and money laundering of proceeds from tax fraud in proceedings that had been going on for years and sentenced it to pay 1.8 billion euros.
However, UBS appealed the decision.