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> In 2010 Congress passed FATCA [1], which forced financial institutions in foreign countries to give up information on assets held by US nationals in their bor
by CaptainZapp 6y ago
> In 2010 Congress passed FATCA [1], which forced financial institutions in foreign countries to give up information on assets held by US nationals in their borders.
With the unintended side effect that it can make it incredibly hard, if not impossible, for an American citizen to open a bank account in another country. Even if she's a resident in that country.