Financial Transparency Coalition

Bloomberg -- Panama will share tax information with at least 10 countries to prevent sanctions over banking secrecy laws, Finance Vice-Minister Frank De Lima said.

PANAMA CITY — The month-old government here is expected to announce as soon as next week the first steps toward breaking with decades of banking secrecy that have drawn both tax-allergic customers and global rebukes.

Embracing populism and criticizing free trade on the campaign trail were the easy part. But now that Barack Obama is negotiating actual trade pacts, he’s learning why this issue has become a third rail for Democratic leaders.