“Credit Suisse faces a penalty of $1.2 billion (1.1 billion francs) from US authorities over cases of tax evasion involving American clients, a Swiss lawyer estimates. The cantonal banks of Zurich and Basel are also believed among those targeted. Last week, MPs in Bern rejected an agreement with the US, backed by the Swiss federal government, to temporarily lift banking secrecy laws to allow Swiss banks to settle with American authorities over past tax evasion cases. The agreement was never made public but was expected to include significant fines against 14 Swiss banks.”
http://www.thelocal.ch/20130624/credit-suisse-faces-12-billion-us-penalty
Related posts:
JPMorgan chief Jamie Dimon negotiates fine amount with U.S.
Top U.S. railroad official resigns after 'consulting' income surfaces
Bailout Banks Made Riskier Loans: Study [2011]
Police Officer Arrests Firefighter At Accident Scene In California
Kentucky sheriff says federal gun laws won't apply in his county
Saudi Arabian women call new day of defiance against driving ban
Chicago struggles to auction off taxi medallions
Arrests Near Stock Exchange Top 150 on Occupy Wall St. Anniversary
EPA’s illegal human experiments could break Nuremberg Code
Made Poor by the Crisis: Millions of Europeans Require Red Cross Food Aid
Extra! Extra! New daily papers arrive as Myanmar lifts press monopoly
Missouri governor vetoes bill to nullify federal gun laws
Washington Pot Entrepreneurs Turn To Cash, Bitcoin
Thanks shallot! Indian police foil onion heist
South African labor unrest spreads, gold, construction strikes loom