Despite U.S. Deals, Credit Suisse Says It Can’t Name Some Likely Tax Dodgers

By Brian Orsak and Colby Adams

Credit Suisse is unlikely to turn over the names of some suspected tax cheats even if the United States adopts a pending bilateral tax agreement with Switzerland, bank representatives told lawmakers Wednesday. In a mea culpa before the Senate's Permanent Subcommittee on Investigations (PSI), Chief Executive Officer Brady Dougan and other bank representatives admitted that two groups within the institution-the private banking division known as SALN and employees of a branch located in Zurich's airport-helped wealthy Americans violate U.S. tax laws. But in a lengthy exchange with Sen. Carl Levin (D-MI), the bankers agreed that approximately 30 percent of Credit...