Swiss Banks To Yanks: Get Lost
The Internal Revenue Services intensified hunt for tax evaders overseas has caused Switzerland's two biggest banks to say goodbye to its American customers.
(AP Photo/Walter Bieri, Keystone)
UBS AG and Credit Suisse Group AG have given Americans a choice: move your money to special accounts they have created in the U.S. or lose the account, Bloomberg reports.
"American citizens are starting to feel like they're Typhoid Mary," Charles C. Adams, managing partner at the law firm Hogan & Hartson LLP in Geneva, told Bloomberg. "The Swiss simply don't want American customers because it requires so much infrastructure and hassle that they don't make any money."
Click here to read the entire Bloomberg article.
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