Banque Cantonale Vaudoise controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2015
US tax-compliance settlement
BCV reached an agreement with the US Department of Justice under the Swiss Bank Program. It paid a US$41.7 million penalty and transmitted information concerning approximately 200 employees in connection with the US tax dispute.
2002
Losses, risk-management crisis and governance fallout
After expansion beyond Vaud during the 1990s, BCV reported accumulated losses of CHF 1.2 billion by 2002. The losses were mainly associated with bad loans and poor risk management. The Canton of Vaud recapitalized the bank with CHF 600 million, and chairman Gilbert Duchoud was dismissed. Bank officers were later acquitted of allegations involving balance-sheet manipulation and document falsification; Duchoud received a suspended 90-day fine related to exceptionally large employee bonuses.