Rep. Lawler urges Treasury to reopen investigation into Swiss bank’s Nazi ties
Lawler said in a letter to Scott Bessent that new discoveries of undisclosed accounts warrant another look into a 1999 settlement between Credit Suisse and Holocaust victims
FABRICE COFFRINI/AFP via Getty Images
A sign of the Credit Suisse reading in German "part of the UBS group" and displayed on a branch of Swiss banking giant UBS in Basel on May 5, 2025.
Rep. Mike Lawler (R-NY) wrote to Treasury Secretary Scott Bessent this week urging him to reopen an investigation into the Swiss bank Credit Suisse over its ties to the Nazi regime.
Credit Suisse, now a subsidiary of UBS, was part of a $1.25 billion restitution settlement between several Swiss Banks and Holocaust survivors and victims’ families in 1999, after the banks were accused of accepting and profiting from Nazi assets and seizing accounts from Holocaust victims. But recent investigations have found more Nazi-linked accounts that weren’t disclosed at the time of the 1999 settlement.
“Recent findings have identified hundreds of previously undisclosed accounts with potential ties to Nazi entities like, the German Foreign Office, and the SS,” Lawler said in the letter to Bessent. “These discoveries raise serious questions about the completeness of past investigations that led to the 1999 settlement and whether full justice and transparency have been achieved for victims. We now have a moral responsibility to ensure that the settlement reached in 1999 does not serve as a barrier to real accountability.”
Lawler urged Bessent to reopen the 1999 settlement and work with Swiss authorities, UBS, courts and other stakeholders to ensure that all relevant documents are produced.
“This includes supporting efforts that would allow independent investigators full access to pertinent materials so that the American people, victims’ and survivors’ families, and the broader international community can have confidence that the truth has been fully confronted,” Lawler continued.
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