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Switzerland Close to Resolving Undeclared U.S. Accounts

Switzerland is moving closer to an agreement with the U.S. to settle a dispute over banks including Credit Suisse Group AG and Julius Baer Group Ltd. allegedly helping American clients avoid taxes.

The Swiss Bankers Association’s board of directors, which includes executives of the country’s largest lenders, met Aug. 26 to discuss a proposed program to resolve the issue, Sindy Schmiegel Werner, a spokeswoman for the Basel, Switzerland-based group, said by telephone today.