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Swiss Bank, Under US Pressure, Reaches Settlement Agreement

Swiss private bank Julius Baer says it has reached a tentative agreement with U.S. authorities over allegations it helped American clients cheat on their taxes. The bank made the statement Wednesday, adding that it has set aside some $547 million to cover the cost of the settlement. The new figure adds $197 million to the $350 million it originally announced it had set aside in June for the settlement. The Julius Baer settlement proposal has been approved by the U.S. Attorney's...

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