in march 2014, credit suisse denied claims it had been drawn into a swiss competition probe investigating potential collusion to manipulate foreign exchange rates by various swiss and foreign banks. in may 2014, credit suisse pleaded guilty to conspiring to aid tax evasion. it was the most prominent bank to plead guilty in the united states since drexel burnham lambert in 1989 and the largest to do so since the bankers trust in 1999. "credit suisse conspired to help u.s. citizens hide assets in offshore accounts in order to evade paying taxes. when a bank engages in misconduct this brazen, it should expect that the justice department will pursue criminal prosecution to the fullest extent possible, as has happened here," attorney general eric h. holder said at the time. holder also said "this case shows that no financial institution, no matter its size or global reach, is above the law." credit suisse shares rose 1% on the day the $2.6 billion penalty was announced.