The Daily Caller

The Daily Caller
FILE - The Dec. 9, 2008 file photo shows a building of Credit Suisse bank in the Brunau district of Zurich, Switzerland. Swiss bank Credit Suisse said Monday, Sept. 19, 2011 it has agreed to pay euro 150 million (US$ 206.4 million) to prevent its staff from being prosecuted in a German tax evasion case.  (AP Photo/Keystone, Gaetan Bally)    GERMANY OUT AUSTRIA OUT FILE - The Dec. 9, 2008 file photo shows a building of Credit Suisse bank in the Brunau district of Zurich, Switzerland. Swiss bank Credit Suisse said Monday, Sept. 19, 2011 it has agreed to pay euro 150 million (US$ 206.4 million) to prevent its staff from being prosecuted in a German tax evasion case. (AP Photo/Keystone, Gaetan Bally) GERMANY OUT AUSTRIA OUT  

Swiss banks may pay billions, disclose names

Swiss banks will probably settle a sweeping U.S. probe of offshore tax evasion by paying billions of dollars and handing over names of thousands of Americans who have secret accounts, according to two people familiar with the matter.

U.S. and Swiss officials are concluding negotiations on a civil settlement amid U.S. criminal probes of 11 financial institutions, including Credit Suisse Group AG, suspected of helping American clients hide money from the Internal Revenue Service, according to five people with knowledge of the talks who declined to speak publicly because they are confidential.

Full story: Swiss Banks May Pay Billions, Disclose Names – Bloomberg