In recent years Americans living outside the United States have increasingly encountered problems opening and maintaining financial accounts both inside and outside the United States. These problems have related both to access to the payments systems and to the ability to open and manage savings vehicles.
The source of these problems has almost always been legislation or regulatory measures which are new or have recently been reinforced and add to regulatory burdens or legal risks for financial institutions. This leads them to discriminate against “US persons” or some subgroup(s) of them, notably those living outside the United States, to minimize costs and risks.
The Banking Committee has been created to work to mitigate these problems by focusing on both advocacy and, without endorsing any identifiable financial institutions, such practical support as we can provide.