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Swiss banks fear heavy fines in U.S. tax deal - sources

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Swiss banks fear heavy fines they expect to pay to settle a long-running dispute with U.S. authorities over helping wealthy Americans evade tax could hit smaller lenders particularly hard, sources said. Finance Minister Eveline Widmer-Schlumpf said on Saturday that Switzerland was on the brink of a deal that would be painful for banks, although she declined to say how big fines might be. Swiss media have reported total fines for the industry could reach $10 billion. The Swiss government has been in protracted talks to end U.S. investigations into about a dozen Swiss banks, including Credit Suisse and Julius Baer, in return for expected fines and a transfer of client names to U.S. authorities. It is also seeking a settlement for the rest of the country's 300 banks. One senior Swiss banker, who declined to be identified because the talks are ongoing, said those banks already under investigation could agree individual settlements, including fines, in coming weeks. Client names would

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