Rumor Heard: Sweeping Settlement with Swiss Banks
There is a rumor going round that the Swiss banks may enter into a sweeping settlement with the U.S. government to settle civil claims. The banks will hand over names of thousands of U.S. clients and pay billions of dollars. The settlement will not cover criminal charges pending against several Swiss and Israeli banks.
Read the full Bloomberg article here: http://www.bloomberg.com/news/2011-10-24/swiss-banks-said-ready-to-pay-billions-disclose-customer-names.html