UBS is facing renewed pressure from the United States Senate over Credit Suisse’s historical handling of accounts linked to Nazi Germany (Bloomberg), after the Senate Judiciary Committee demanded answers to dozens of additional questions and accused the Swiss lender of failing to fully address its earlier requests. Helen Junz, former member of the Volcker and Bergier commissions, in a five-page letter dated August 6, 2026 also criticized UBS’s interpretation of the 1998 settlement.

The latest development was reported on Thursday, September 3, when a previously undisclosed letter from Senator Chuck Grassley, chairman of the Senate Judiciary Committee, was made public.

Dated July 17, 2026, the letter contains 62 questions for UBS. Grassley told the bank that its previous responses had not fully addressed the committee’s questions. UBS declined to comment on the letter, according to the report, but a person familiar with the bank’s planning said it is preparing a response.

The renewed pressure comes as UBS seeks to bring to a close a years-long investigation into Credit Suisse’s historical relationships with Nazi-linked clients and organisations. The bank has argued that the inquiry should end by the end of 2026, while Grassley and independent ombudsman Neil Barofsky continue to push for additional records and a more comprehensive investigation.

Grassley is also planning another Senate hearing on the issue, although no date has yet been set. He wants the historical records gathered during the investigation to be preserved in a repository dedicated to Credit Suisse’s Nazi-linked accounts.

A new round of questions

The immediate issue is the Senate’s dissatisfaction with UBS’s previous answers.

Grassley’s July 17 letter shows that the committee does not believe the information already supplied by the bank has adequately addressed its concerns. The 62 questions give UBS another opportunity — and another deadline in the political process — to explain its position and provide further information.

The questions come after months of increasingly public disagreement between UBS and Barofsky, who is overseeing the investigation.

The Senate’s interest is focused on Credit Suisse’s historical handling of accounts connected to Nazi Germany, including the treatment of Jewish clients’ assets and the bank’s relationships with Nazi-affiliated institutions.

The investigation has already produced significant new findings.

At a Senate hearing in February 2026, lawmakers were told that investigators had identified 890 previously undisclosed accounts with potential Nazi links at Credit Suisse. According to Senator Grassley, the accounts included those belonging to the German Foreign Office, the SS, and a German arms manufacturer.

Those findings transformed the investigation from a largely historical review into a continuing dispute over what Credit Suisse knew, what was previously disclosed and whether additional records could........

© The Times of Israel (Blogs)