Credit Suisse AG (CSGN) pleaded guilty to charges of helping Americans evade taxes and settled to pay a $2.6 billion fine, making history as the first international bank to admit to a crime in an American courtroom in the last 10 years.

The plea also marked a firmer stance by the US Justice Department, after it received flak for avoiding to pursue large banks following the financial crisis of 2008 over alleged fears of a possible economic fallout.

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In a press conference, Attorney General Eric Holder said the case just proved that no financial institution is above the law, even if it has an international reach. He added that the profitability or market share of a company should never be utilized as a guard against penalty or prosecution.

Credit Suisse will have to pay $1.8 billion to the US government, including a reimbursement to the Internal Revenue Service worth almost $670 million. The fine also includes $715 million compensation to the Department of Financial Services in New York, and $100 million fine to the Federal Reserve.

An individual working at the state bank regulation also asked for the termination of several employees as well as a formation of an independent monitor. 

The bank said that the payment for the penalties will reduce its second-quarter earnings by 1.6 billion francs, or US$1.79 billion. 

Credit Suisse AG is a part of the worldwide Credit Suisse Group AG. The corporation has a lot of subsidiaries that perform all its functions. The bank was indicted by the US government together with two subsidiaries early Monday.

The results of investigations submitted to the Alexandria federal court found that the bank helped their American clients utilize secret Swiss accounts to help Americans hide money from the Internal Revenue Service.