[belk]

it's effectively the same, small banks just shove you out of the building and refuse to open a bank account for you if FATCA applies to you, their compliance is through just not accepting US tax payers.

This is a real issue that leaves US citizens only able to open accounts at bigger banks (with shittier services but enough budget to hire a FATCA compliance department)

[DEADMINCE]

> it's effectively the same

Nope. Not even close.

Practically the GDPR law has no teeth at all because its claim of extraterritorial jurisdiction is nothing but nonsense.

FATCA applies because the US has a carrot or stick to enforce it.

Also, the US law as written is entirely reasonable and doesn't try to claim the law applies to US citizens anywhere in the world.

[shkkmo]

> US law as written is entirely reasonable and doesn't try to claim the law applies to US citizens anywhere in the world.

It absolutely does.

The USA has laws that govern what it's own citizens do abroad like. You aren't allowed to have sex with minors or pay bribes when abroad.

The USA also recently passed a law that allows it to prosecute foreign officials who solicit bribes from USA entities. https://www.ropesgray.com/en/insights/alerts/2023/12/us-cong...

[account42]

If the GDPR has no teeth and the EU no stick to enforce it with then US commpanies following it would not be reasonable like you have claimed.