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Read up on FATCA (https://en.m.wikipedia.org/wiki/Foreign_Account_Tax_Compliance_Act https://en.m.wikipedia.org/wiki/Foreign_Account_Tax_Complian...) before you
by mhw 8y ago
Read up on FATCA (https://en.m.wikipedia.org/wiki/Foreign_Account_Tax_Compliance_Act https://en.m.wikipedia.org/wiki/Foreign_Account_Tax_Complian...) before you argue further down that path. The US already has extraterritorial laws that have to be enforced by banks worldwide that don’t operate in the US.
- orangecat 8y agoYes, and that sucks. Adding more overly broad extraterritorial laws is going in the wrong direction. Note that a common response by foreign banks to FATCA is to refuse to do business with Americans, which is very likely the best course of action. So it shouldn't be surprising when companies take similar precautions because of GDPR.
- taysic 8y agoThere seems to be a big difference between enforcing a law on all financial institutions and enforcing a law on all websites basically that serve the EU. The latter seems next to impossible to enforce.
- seanmcdirmid 8y agoFACTA is why banks refuse US citizen or PR customers.