Defense Bill Amendment Would Offer FATCA Same-Country Exception by Andrew Velarde
"Charles M. Bruce, counsel for American Citizens Abroad, said that his organization was in strong support of and grateful for the amendment.
'A same-country exemption was inches away, in late 2016, from being put in the FATCA regulations but exasperatingly fell out,' Bruce said. 'The problem is ‘lockout’ of Americans abroad from their local foreign financial institutions — banks and the like. This does what should've been done years ago. There should be no controversy here.'"