Swiss Banks Risk Bigger Than Expected Fines In U.S. Tax Case
Swiss banks are under investigation for allegedly aiding U.S. tax evasion and could face the prospect of bigger fines that could dent their capital and force some to cut dividends. The Alpine nation’s bankers got a jolt last week after Credit Suisse agreed to plead guilty to helping wealthy Americans evade taxes and pay a fine of $2.6 billion, more than double the amount it had set aside for the purpose.
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