Enforcement via FATCA was a last minute amendment to a 1,000 page bill. No one read it, and it was overly broad - meant to capture people in the US hiding cash

Enforcement via FATCA was a last minute amendment to a 1,000 page bill. No one read it, and it was overly broad - meant to capture people in the US hiding cash offshore but instead captured people who live outside the US and legitimately have local bank accounts.