Finter Bank Zurich Pays $5.4 Million In U.S. Tax Agreement Over Aiding Evasion

Finter Bank Zurich agreed to pay a $5.4 million penalty and become the third Swiss bank to settle under a U.S. program that lets firms avoid prosecution if they explain how they helped American clients avoid taxes.

Under the program, Swiss banks escape charges by laying out details of their cross-border business, as well as sharing information on American accounts. Other banks are negotiating similar accords.

The non-prosecution agreements aren’t available to a dozen Swiss banks under criminal investigation. Credit Suisse Group AG’s main bank subsidiary pleaded guilty last year and paid a $2.6 billion fine.

Finter admitted that from ...