The Senate Judiciary Committee, led by Chairman Chuck Grassley (R-Iowa), will hold a bipartisan hearing next week focused on the historical involvement of Credit Suisse and other Swiss banks in financial activities linked to Nazi Germany. The hearing, titled “The Truth Revealed: Hidden Facts Regarding Nazis and Swiss Banks,” is scheduled amid growing calls for transparency about the extent of Swiss banking institutions’ roles during and after World War II.
Grassley initiated a congressional investigation into Credit Suisse in 2023 after whistleblower allegations surfaced from the Simon Wiesenthal Center. The center claimed that Neil Barofsky, who was responsible for an independent probe into Nazi-linked accounts at Credit Suisse, had been wrongfully dismissed. Following oversight by Grassley, Barofsky was reinstated and his investigation continues, with a final report expected later this year.
In addition to the U.S.-based inquiry, Grassley has secured cooperation from Argentine President Javier Milei to examine Argentina’s archival records for evidence related to so-called “ratlines.” These were routes used by Nazis fleeing Europe after World War II, often through Latin America.
Supporters of the investigation include Holocaust survivors’ descendants, Jewish leaders, educators, and advocacy groups. Elisha Wiesel, son of Nobel Laureate Elie Wiesel, wrote: “Your efforts to expose the role Swiss banks played in collaborating with the Nazis, and the decades of deception that followed, matter profoundly… I approach this issue not only as a descendant of the Holocaust, but also as someone who has spent more than twenty-five years in the financial services industry and who continues to work in the industry today. I am acutely aware of how deeply financial institutions shape moral outcomes… By insisting on documented truth and public accountability, the Committee sends a clear and necessary message. History will not be rewritten to serve hatred, and institutions that participated in or concealed great evil will not be shielded by time or silence. I am deeply grateful for your leadership and moral clarity.”
Michael Igel, Chair of Wiesel Archive and Legacy Council and grandson of Holocaust survivors stated: “For families like mine, the harm did not end in 1945. For decades, Holocaust survivors and their descendants were met with falsehoods, obstruction, and denial as Swiss banks concealed their collaboration with the Nazi regime and withheld assets stole from Jewish victims. Bringing these facts to light through a congressional hearing is a historic opportunity to clarify the record and confront a long-standing injustice.”
Dr. Alex Kor reflected on his family’s history: “Since I was a youngster growing up in Terre Haute [Indiana]... The American people and mankind need to be aware of what happened when evil and hate worked synergistically under the direction of Hitler... Your efforts to enlighten the world... is courageous... My parents are smiling down upon you.”
Troy Fears from CANDLES Holocaust Museum commented: “A congressional hearing that brings to light - after decades of concealment - the full historical record of Swiss banks’ complicity in Nazi crimes against the Jewish people represents more than an act of investigation; it is an act of moral responsibility…”
Elizabeth Bettina Nicolosi emphasized accountability: “Those who took what was not theirs... must be held accountable—not only for justice for victims... but for integrity... Switzerland ... must have its wartime actions fully examined...”
Rabbi Yossi Eilfort highlighted education’s role: “As a rabbi... Bringing these facts into public record through a congressional hearing is therefore not only historic; it is corrective…”
Rabbi Zvi Teitelbaum added: “…I am deeply grateful for ... continued inquiry into Swiss collaboration with Nazis ... At a time of unprecedented surge in antisemitism ... your work sends ... necessary message about where America stands.”
Other voices included Dr. Philip Werthman—who noted his family’s military service during WWII—and Dr. Deborah Soffen who called attention to current global issues alongside historical ones.
Artist Montana Tucker remarked on social media's influence on historical memory: “…I have chosen to speak directly to younger generations about Holocaust ... When institutions hide their actions ... it does lasting damage …”
Several organizations such as AMMWEC (American Muslim & Multifaith Women’s Empowerment Council), Iraqi Christian Relief Council and Israel Economic Forum have also endorsed Grassley’s efforts.
The committee plans further review once Barofsky delivers his final report later this year.
