Loading…
Wednesday, October 22, 2014
Current Weather
Loading Current Weather....
Published: Saturday, 11/30/2013

BUSINESS BRIEF

Swiss government OKs banks to talk to U.S.

BLADE NEWS SERVICES

GENEVA — The Swiss government said it has cleared the first batch of banks to cooperate with U.S. authorities under a deal to stem tax evasion.

The Cabinet gave its approval at a meeting Friday but said in a statement that it won’t give information on the number of banks involved or name them.

The agreement allows Swiss banks to settle any potential U.S. charges if they disclose information related to American assets. Some would also have to pay a penalty. Banks wanting to participate have to seek individual permission to do so from the government.



Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.

Related stories







Poll