The real meaning of FATCA

The Ugly Face of FATCA: Why Life for American Expats Is Getting Harder

From Newsmax Business -

“The Foreign Account Tax Compliance Act (FATCA), while designed to “minimize tax cheats,” is making banking — and life in general — painfully difficult for millions of American expats, according to Mike Michelini, a Hong Kong-based business consultant with globalfromasia.com. Here is his editorial.

Under FATCA, all 8 million or so Americans living and working overseas must report all non-U.S. financial accounts to the U.S. government.

The ambiguities and complexities of reporting under FATCA mean that many expats, most of whom are not wealthy, spend thousands of dollars every year to ensure that they are in compliance.

However, this is just the beginning of FATCA’s ugly impact …”

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The year in banking: top 10 trends in 2015

From GT News –

“What were the major banking trends and themes in 2015? Here’s a top 10 selection of what emerged as the main developments over the past 12 months.”

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Are you pushing the Cross-Selling envelope too far?

Huge Cross-Selling Scandal Sends Warning to Entire Banking Industry
From The Financial Brand –

“Wells Fargo faces intense scrutiny for its aggressive cross-selling culture. Federal investigators, regulators and state attorneys are all looking into whether the megabank broke the law when pushing additional products and services on customers. Could your cross-selling strategy make you the target of a Federal probe?”

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