Three more Swiss banks sign up with Justice

The Justice Department announced Thursday that its Swiss Bank Program snared another three financial institutions in its battle against offshore tax evasion.

Mercantil Bank will pay a $1.2 million fine, Banque Cantonale Neuchâteloise (BCN) will pay $1.1 million and Nidwaldner Kantonalbank will fork over $856,000 the federal government.

{mosads}By joining the program, the banks will also give federal investigators a full accounting of their work with U.S. customers, including detailed information, and provide information on other banks.

The Justice Department also revealed that Mercantil Bank had a toll-free line for U.S. customers, and offered code names for accounts. BCN allowed account holders at the Swiss banking giant UBS and other financial institutions to transfer over, once it became known those banks were under investigation by the U.S.