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Governments Press U.S. to Ease Overseas Tax-Cheat Law

Foreign governments, concerned it could cost their biggest banks hundreds of millions of dollars to comply with a U.S. law for catching tax cheats, are pressing the Treasury Department to apply the rules more narrowly.

Banks have been lobbying for an easing of the rules since the law was passed last year. Now diplomats are stepping into the campaign, with countries including Switzerland, the U.K. and Canada weighing in with the Treasury.

Full story as reported by Bloomberg Businessweek.

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