FATCA Repeal Discussions Continue

The House Oversight and Government Reform subcommittee on Government Operations in the U.S. held a hearing to discuss the unintended consequences of FATCA. Congressman Gerry Connolly claimed that FATCA is a consequence of a valid problem, however, the legislation may be over zealous in its reach to the point that it is disrupting the lives of law abiding U.S. citizens.

Senator Rand Paul and Rep. Mark Meadows argued that FATCA is a “solution in search of a problem” and claimed while the legislation may be well intentioned, the implementation is flawed.

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The Caribbean Association of Banks, Inc. is the representative body and recognized voice for banks and other financial institutions in the Caribbean. We seek to influence policies and legislation which impact the sector by advocating on our members’ behalf and participating in the global network of similar institutions.

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