Swiss Banks To Yanks: Get Lost

(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."

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