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Swiss Bank Valiant First to Agree to US Tax Deal

Valiant has become the first Swiss firm to agree to crack down on wealthy Americans evading taxes and as many as a third of the country's banks are expected to follow in the latest step in a long-running dispute with the United States. The deal between the United States and Switzerland, agreed in August, is part of a U.S. drive to lift the veil of Swiss bank secrecy. In 2009, this led to UBS paying $780 million in a settlement where the bank agreed to hand over U.S. client names...

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