Switzerland‘s banks on Tuesday issued an unusually direct apology for their role in helping tax cheats, following a landmark settlement with U.S. authorities which could threaten the existence of some firms. The banks do not know the ultimate cost of a government settlement to a long-running U.S. drive to pierce […]
Tag: Banks
Reps accuse banks of tax evasion
The House of Representatives said on Sunday that banks in the country evaded tax and engaged in other illegal conduct such as false declaration, violation of laws and “self exemption from existing rules.†The House noted that an ongoing investigation into tax collection and remittances by the banks had exposed […]
Millions To Share £1.3bn Bank Compensation
Regulators have confirmed a compensation fund of £1.3bn for up to seven million victims of another insurance mis-selling scandal. The announcement, which was made 12 hours after Sky News was handed details of the Financial Conduct Authority’s agreement with banks , outlined how Card Protection Plan Limited (CPP) and 13 […]
