U.S., Switzerland Resolve Bank Secrecy Dispute

August 12th, 2009

The Washington Post

U.S. and Swiss negotiators have initialed a settlement that averts a legal showdown over the U.S. government’s landmark challenge to Swiss bank secrecy, a government lawyer said Wednesday.

The U.S. government had sought a federal court ruling compelling Switzerland’s largest bank, UBS, to turn over the names of Americans suspected of dodging taxes through the use of 52,000 secret accounts.

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