News Summary: Switzerland seeks to end tax spat

News Summary: Switzerland takes step to end tax dispute with US

Associated Press

TAXMAN COMETH: Switzerland plans to let banks skirt its strict client-secrecy laws, ending a long-running tax evasion dispute with the United States.

STILL IN WORKS: The company didn't provide specific details, and the agreement is still subject to approval by lawmakers in parliament later this year, but the finance minister said the country is acting now because U.S. patience with those Swiss banks suspected of aiding American tax cheats is running out.

GETTING TRANSPARENT: Long a center for finance, diplomacy and trade, Switzerland has been trying to shed its image as a haven for tax evasion and money laundering.

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