Bank Coop and Migros Bank have agreed to work with the United States in its effort to stop tax evasion through offshore accounts by U.S. taxpayers. In cooperating with the U.S., the Swiss banks will provide U.S. officials with information on hidden accounts and pay a penalty but will avoid criminal prosecution. Monday was the deadline for banks to inform Swiss regulators of their plans.
Two More Swiss Banks Join U.S. Tax Deal New York Times
Offshore Tax Evasion Resource Page Boston Tax Attorney Blog