Swiss banks drop U.S. clients due to UBS case: report

July 4th, 2009


ZURICH – Swiss banks including ZKB and Mirabaud are pulling out of business with individuals who pay U.S. taxes, newspaper Neue Zuercher Zeitung (NZZ) reported on Saturday.

The banks are reacting to pressure from U.S. authorities, who are waging a legal battle with UBS to try to force it to give up the names of tens of thousands of Americans suspected of cheating the U.S. government by concealing accounts abroad, the newspaper said.

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