Augsburger Aktienbank, one of the largest banks in Germany's Bavaria region, is preparing to inform its American clients that they must take their accounts elsewhere by the end of March, according to a published report in Germany. 

 The Paris based Association des Américains Accidentels (Association of Accidental Americans, or AAA) has filed two legal complaints simultaneously in Belgium and Luxemburg, in which it demands the “immediate halt to the transfer of European citizens’ personal data to the United States”.

Time magazine, one of the longest-established and best-known weekly magazines in the U.S., has become the latest mainstream media outlet to run a major article about America's so-called "accidental Americans," and their struggles to maintain bank accounts in the countries in which they live and are citizens of, as a result of the controversial U.S. law known as FATCA. 

The head of the German Presidency of the EU has written a strongly-worded letter to the head of the U.S. Internal Revenue Service on the subject of the U.S. law known as FATCA, and what he calls "the continuing challenges EU residents with U.S. citizenship are encountering in connection with the application of the FATCA – Exchange of Information under  Intergovernmental Agreements (IGA) by the the EU Member States."

Twelve Swiss banks and one fiduciary firm have been formally notified by the Swiss government that the U.S. is expecting them to provide data on certain of their American account-holders, as required by FATCA.

Two of the Netherlands' largest banks, ABN AMRO and Rabobank, are also prepared to close the bank accounts of "unintentional Americans" if these individuals "do not cooperate with the U.S. requirements" that they provide tax information numbers, such as a Social Security number, or evidence that they have entered into the U.S. system for relinquishing their citizenships, according to a report published on Friday on the news website NRC.nl.

 A proposed amendment to France's 2021 Finance Bill, which would have obliged the U.S. to reciprocate with respect to the information it currently receives from France under FATCA, has been declared "inadmissible" by the chairman of the French Senate's finance committee, and thus will not be included in the final draft of the legislation, it was announced over the weekend.

Less than two weeks after the sponsors of a proposed amendment to France's 2021 Finance Bill that would have obliged the U.S. to reciprocate with respect to the information it currently receives from France under FATCA withdrew it from consideration at the last minute, three members of the French Legislature's upper house have tabled a similar amendment.

Dutch lawmakers said on Tuesday that they plan to join forces with their French counterparts in asking the EU Commission to once again raise with the U.S. the issue of the problems some of their citizens are having with their financial accounts, as a result of the U.S. tax evasion-prevention law known as FATCA.

It was probably wishful thinking on the part of American expats and "accidental Americans" across Europe that France's National Assembly two weeks ago actually would have approved a proposal that would have seen France stand up to the U.S. government over its anti-tax evasion law known as FATCA...