After the USA bullied the swiss into ratting out Americans with money there, almost no banks permit holders of US passports to open big accounts —too damn many nasty letters from Uncle Sam —they want their cut of your money now —RIGHT NOW.
No US passport? No problem with non US banks. Call it an Electronic Berlin Wall for Americans.
Nice huh? Thank you GayMuzzie.
Rand Paul has proposed a bill to fix the nastier parts of FATCA. But I haven't seen the Grand Old RINOs acting with any haste to take it up, so it seems they approve of declaring expatriate citizens Properties of the United States Government.