U.S. Millionaires Shunned by Singapore Banks as Tax-Evasion Law Looms

San Francisco Chronicle, 8 May 2012
Go away, American millionaires. That’s what some of the world’s largest wealth-management firms are saying ahead of Washington’s implementation of the Foreign Account Tax Compliance Act, known as Fatca, which seeks to prevent tax evasion by Americans with offshore accounts. HSBC Holdings Plc (HSBA), Deutsche Bank AG, Bank of Singapore Ltd. and DBS Group Holdings Ltd. (DBS) all say they have turned away business. Full story

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U.S. Millionaires Shunned by Bankers as Tax-Evasion Law Looms - San Francisco Chronicle