More Saber Rattling At Offshore Banks Playing the Offshore Bank Game (6/23/11)

Bloomberg news today has this report buried among other news (emphasis supplied):

The U.S. could try to bar certain foreign banks from the federal banking system for helping American citizens evade taxes through offshore accounts, a prosecutor said.

Kevin Downing, who led the prosecution of UBS AG (UBSN) in 2009, said the Justice Department’s tax division is reviewing correspondent accounts used by foreign banks without a presence in the U.S. Prosecutors could take action against some of those banks, Downing said yesterday at a New York City Bar Association event.
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