UBS, US Reach Tentative Settlement
July 31st, 2009
Swiss banking giant, UBS, and the US government have come to a tentative settlement agreement in the prolonged legal battle which has pitted the US government against Swiss banking secrecy. From the Washington Post:
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The U.S. and Swiss governments have tentatively settled a dispute in which the U.S. government was seeking information about thousands of American depositors suspected of using accounts at Switzerland's largest bank to hide money from the Internal Revenue Service.
The two sides have "reached an agreement in principle on the major issues," Justice Department lawyer Stuart D....