U.S. Senator Chuck Grassley revealed on February 3, 2026, that an ongoing investigation into Credit Suisse has uncovered 890 accounts with potential links to the Nazi regime. The Republican lawmaker, who chairs the Senate Judiciary Committee, disclosed the findings ahead of a committee hearing on banks’ role in facilitating the Holocaust.
Discovery of Previously Unknown Accounts
The probe, led by former U.S. prosecutor Neil Barofsky, identified hundreds of wartime accounts previously undisclosed or only partially known. These include links to the German Foreign Office, involved in deporting Jews to concentration camps, a German arms manufacturing company supporting Nazi war efforts, and the German Red Cross.
Additional revelations show broader ties to the Nazi SS paramilitary organization. Evidence indicates Credit Suisse’s banking relationships with the SS were more extensive than previously acknowledged, including an account held by the SS’s economic arm.
The investigation stems from archives of Credit Suisse, acquired by UBS in an emergency 2023 takeover. Barofsky was reinstated to lead the review following earlier congressional pressure.
Ongoing Probe and Congressional Scrutiny
Grassley has tracked the Credit Suisse investigation for years, initially prompted by whistleblower concerns from groups like the Simon Wiesenthal Center. The senator highlighted that these accounts were used by entities or individuals aiding Nazi war efforts.
UBS has stated it is cooperating with Barofsky to provide a full accounting of any Nazi-linked legacy accounts from Credit Suisse and its predecessors. The bank committed to transparency on this historical issue.
The disclosures add to long-standing debates over Swiss banks’ wartime conduct and asset handling during the Holocaust era. Barofsky’s work continues, with a final report expected later in 2026.