re: 77,000 different foreign banks in 70 countries reporting to IRS now

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No bank wants to deal with this over the miniscule profits to be made off expats accounts.

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I see this every day. And it isn't just expats. Try being a dual citizen that was born in the U.S. but has spent your life living in another country that is now getting grief from a foreign bank due to your U.S. citizenship because they don't want the reporting obligations.