The asymmetry of FATCA is unbelievable. The US is bullying the banks of European countries by forcing them to report to US agencies the bank accounts of US citizens or US residents. Either the foreign banks comply, or they ask the US person to close his/her account.

Some EuropeanS with a link to the US have to move their bank accounts or investments accounts to the US because the European banks literally kick them out of fear of not being able to comply with FATCA.