“The new law, expected to be phased in over several years, requires foreign banks to identify Americans among their clients and to provide their financial information to the Internal Revenue Service. Just one person overlooked could mean a penalty equivalent to 30% of a bank’s U.S. income.   Most banks in Switzerland have little appetite to deal with such risk and are quietly—or openly—ushering American clients out or limiting the range of products offered to them, tax experts and bankers say.”

http://online.wsj.com/article/SB10000872396390444592704578062570295543436.html

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