To U.S.-Swiss Tax Evasion Settlement, a Pocket of Bankers Marshals Resistance

By Irene Madongo

Hundreds of Swiss bankers are suing to stop their old employers from turning over to the United States details of their interactions with suspected American tax evaders, according to a tax attorney. Under a bilateral deal reached in August 2013, a raft of Swiss banks not already under investigation by the U.S. Justice Department must share data on former and current American clients who may have skirted tax reporting rules. The deal also asks the Swiss institutions to name employees and other parties who acted as advisors to wealthy American customers. The agreement has prompted current and former bankers, as...