FATCA isn’t even being enforced, and yet American Semites are already being reported as getting kicked out of American banks left and right. At the going rate, this is going to become one heck of a lot worse once reciprocity starts to require American banks to export the financial data of Semites based on their national origin, and it certainly won’t be limited to Israel. Unfortunately, American Semites won’t be able to protect themselves with banking secrecy this time.
Arab Americans have been increasingly targeted with account closures… “This is just not an isolated problem. We believe it is happening to hundreds if not thousands of Arab Americans,” Ayad said.
I called the Arab-American Civil Rights League (1-313-633-0890) to ask if they had heard anything about FATCA and the bank account issues it has been causing for Americans living abroad. Yet, sadly, they hadn’t heard anything about it and so tried my best to introduce the topic.