Financial Transparency Coalition

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.

As a federal probe of secret Swiss bank accounts made headlines in the summer of 2008, New York businessman Jeffrey P. Chernick got nervous. A middleman in international toy sales, Chernick had hidden millions of dollars from the Internal Revenue Service at Switzerland's largest bank, according to a recent court filing.

WASHINGTON (Dow Jones)--Swiss government officials, including the Swiss federal banking commissioner Urs Zulauf, are scheduled to take the stand next week at an evidentiary hearing in the high-profile case involving the U.S. and Swiss governments and UBS AG (UBS).

LONDON -- A senior Swiss official accepting a $45,000 bribe? The U.S. citizen who made the allegation as he pleaded guilty to hiding money from the U.S. government might just has well have insulted all Swiss grannies.