The days of Swiss banking secrecy are over. In a watershed agreement between the United States and Switzerland, Swiss banks will now disclose details on accounts in which Americans have an interest; inform on other banks that open or maintain secret accounts; close the accounts of Americans who are deemed to be evading taxes; and, in some cases, pay substantial fines and penalties to rectify past transgressions. In return, they will receive non-prosecution letters in some cases and no-target letters in others. The deal does not apply to the 14 Swiss banks and affiliates that are currently under criminal investigation.