UBS Faces Senate Pressure Over Nazi Accounts

UBS faces bipartisan U.S. Senate pressure as two executives testify Tuesday before the Judiciary Committee over historical Nazi-era accounts tied to predecessor Credit Suisse. Independent ombudsperson Neil Barofsky, overseeing a bank-commissioned investigation restarted after subpoenas by Sens. Chuck Grassley and Sheldon Whitehouse, is expected to file a final report later this year. The scrutiny could affect UBS's U.S. wealth-management expansion and regulatory standing.