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Canadians Confront the Banks and the Yanks: Open Letter Urges President of Canadian Bankers Association to Oppose FATCA

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We have made our concerns about FATCA known to the Canadian government, but it is now up to them to negotiate an IGA that will hopefully address your concerns and ours and balance out Canadian law and rights with the requirements of FATCA. We have no control over the negotiations or the content of the IGA and neither do the banks or other financial institutions.

To address some of @LynneBlaze's points raised here and on Twitter, the financial services industry has not capitulated and we are not enthusiastic about an IGA. Our concerns about FATCA have not changed but the reality is that an IGA is coming.

You have also asked if banks and other financial institutions will ask all customers where they were born and what would give them the legal authority to do so. The requirements are unclear right now but we are expecting the details to be outlined in the IGA.

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www.globalstrategicpr.com

Managing Director, Global Strategic Communications Group; government and media relations specialist. Former US diplomat, US Senate staffer. JD Georgetown 1978, BA Penn State 1974.

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With US influence sinking faster than a stone, it ... by Archie on Thursday, Nov 14, 2013 at 2:53:29 PM