Absolutely. See my post #27 (I posted it without seeing your response or I'd include you in CC as well).
To my limited understanding, anyway.
You seem to understand it much better than most people bantering about it.
[Major] Swiss banks prided themselves on anonymity. Now, after the IRS and SEC crackdowns, several Swiss bankers and many US citizens are behind bars and/or paid heavy fines and penalties for tax evasion. Singapore is considering "financial transparency" cooperation with the US banking system and tax authorities.
The recent US law, called FATCA / Foreign Account Tax Compliance Act (ironically, rhyming with the word "fatcat" that Obama, Dems and Occupy-ers used notoriously against "Wall Street" and "banksters") significantly increased compliance costs and disclosures of all undeclared income or assets.
That, plus some of the highest taxes among the industrial countries (including double or triple taxation and extreme burden of bureaucratic regulatory compliance), is but one major reason for a record number of US citizens giving up their citizenship in recent years (Tina Turner is one most recent high-profile example).
And it includes not just very wealthy, but many [former] Americans living and/or working overseas - many banks there close and/or refuse to open new accounts for US citizens.
As I recall, the heavy handed behavior of our taxmen earned us no small amount of enmity from the Swiss.