GOP's Anti-FATCA Stance Lacks Legs, Officials Say

Law360, New York (February 3, 2014, 4:59 PM EST) -- The Republican National Committee's recently passed resolution to repeal the Foreign Account Tax Compliance Act has more to do with pleasing campaign donors than actually changing what has become a global norm, current and former government officials told Law360.

Thanks to the information sharing law, Americans overseas have found themselves shut out of banks and investment opportunities while facing heavy reporting requirements, the resolution says. But the global regime has gone too far to turn back now, said Don Ebanks, former executive director of the Secretariat...
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