[smoe]

It wasn't the US alone. The pressure increased from pretty much all the important trade partners in the west and a lot of the bank secrecy breaking a bit had to do with the Swiss banks really really wanting to do business in those countries, preferably without following their laws. But in the end it was the big banks that gave up on the iron-tight secrecy themselves and pushed for deals before the Swiss government did.

I agree that you can't count on jurisdiction alone for your data remaining safe. Neither will a technical solution like encryption. The latter might keep your data safe, but not you and your loved ones if there are not some legal limits what people wanting to access it can do.