More Swiss Banks Settle with Department of Justice

                At the end of June and in July 2015, more Swiss banks reached a settlement with the U.S. Department of Justice (DOJ) with respect to participation in the DOJ Offshore Voluntary Disclosure Program for Swiss banks.  On June 26, 2015, Ersparniskasse Schaffhausen AG reached a settlement.  On July 2, 2015, Privatbank von Graffenried AG reached a settlement.  On July 9, 2015, Banque Pashe SA and ARVEST Privatbank AG reached settlements.  On July 16, 2015, Mercantil Bank (Schweiz) AG, Banque Cantonale Neuchâteloise and Nidwaldner Kantonalbank reached settlements.