Swiss Banks Deal Near In Tax Haven Crackdown, Justice Department Says

The deal, to be finalized within days, would end a dispute over American investigations into Swiss banks. The deal won't include 14 Swiss banks already under criminal investigation, and only will apply to financial institutions not yet under formal probes, said the Justice Department official, who would not agree to be named because the deal isn't final.

Under the deal, Swiss banks could disclose their activity to U.S. investigators and enter a non-prosecution agreement or a deferred prosecution agreement. If the banks can prove they weren't willingly helping Americans avoid paying U.S. taxes, the Justice Department will issue them a non-target letter.

Read More: www.huffingtonpost.com/2013/08/28/swiss-banks-deal_n_3832052.html