UBS helped wealthy customers avoid US taxes. They have admitted guilt but there will be no prosecutions (why?) however they will pay $780 million in fines.
However, as part of the agreement, UBS will also drop the dime on their wealthy clients and rat them out to the IRS. That should be really good for their customer relations.
Tell me, are any of these banks even remotely honest or ethical?
The bank officials who participated in this are criminals. Period. They should go to prison.