Credit Suisse’s $77M corruption fine

Credit Suisse is the latest Wall Street bank in trouble with U.S. authorities over Chinese hiring, reports The New York Times. The firm has been fined $77 million by the Justice Department and the SEC in a settlement over claims it hired the relatives of influential Chinese officials in order to curry favor and win business in the region. In 2016, authorities fined JPMorgan Chase $264 million over its hiring practices in China.