River Bend Times

Tens of thousands of documents have been uncovered by a Senate Budget Committee investigation into Credit Suisse's World War II-era accounts, revealing extensive evidence of previously unknown or partially known Nazi-linked account holders. The bank had not disclosed these accounts during earlier investigations. Senators Chuck Grassley and Sheldon Whitehouse led the inquiry as Ranking Member and Chairman of the Budget Committee, respectively, during the 118th Congress.

The bipartisan investigation prompted a comprehensive examination of Credit Suisse (now under UBS leadership) and its predecessor banks' records by AlixPartners Ltd., a third-party forensics team. Independent Ombudsperson Neil Barofsky, who was reinstated after being fired by the bank due to the committee's investigation, oversees this process.

Barofsky provided an interim update at Grassley and Whitehouse's request, revealing new details about Credit Suisse’s servicing of Nazi clients and their enablers. "From the beginning, the Senate Budget Committee’s bipartisan goal was to ‘leave no stone unturned’ in pursuit of justice for those wronged by Nazi atrocities," Grassley stated. He expressed hope that these records would be preserved for future research.

Whitehouse emphasized the committee's commitment to truth and justice for Holocaust survivors and their families. "Our inquiry has already exposed new details about Credit Suisse’s servicing of Nazi clients," he said. He acknowledged UBS's cooperation in ensuring a thorough review of all relevant records.

Barofsky's investigation continues with a final report expected by 2026.