For further information contact:
Lynne Swanson, maplesandbox at yahoo dot ca
Administrator, Maple Sandbox
Peter W. Dunn, petros at isaacbrocksociety dot ca
Administrator, Isaac Brock Society
The Canadian Bankers Association says:
Dear name withheld by request,
We are very aware of the concerns that you and many others have about FATCA and have corresponded in the past with followers of the Isaac Brock Society and Maple Sandbox. You should know that the banking industry in Canada and around the world shares your concerns.
We have general information about our opposition to
The CBA and banks in Canada have been standing up
for bank customers and voicing concerns with FATCA for a number of years. We
have raised our concerns with the IRS, the U.S. Treasury Department and the G7 both
directly and through our membership in the International Banking Federation.
You can find more information here:
We also went to Washington to meet with IRS and U.S.
Treasury officials and Canadian Embassy officials. Last year, the CBA also made
a presentation in Washington at public hearings before Treasury and the IRS and
our president spoke out against FATCA in speeches in Calgary and Vancouver as
well. Here are the links:
We submitted an opinion piece with our concerns about FATCA to the Washington Post and the Wall Street Journal. It did not get published.
In Ottawa, we have raised concerns with officials from the Department of Finance, the Minister of Finance and the U.S. Embassy. Finance Minister Jim Flaherty has supported our position and expressed his own concerns publicly and we appreciate the support from the Minister and his officials.