Print this article
French-American Group Sues Over Finance Access Woes - Report
Editorial Staff
8 July 2020
A group representing French-American taxpayers is filing a new lawsuit over US tax and banking rules which, they say, stop them from opening online banking accounts in France, a report quoting their lawyer said earlier this week. "You can't exclude someone because of their nationality," Vey was quoted as saying. "It's clearly discriminatory."
The civil suit aims to encourage a Paris court to designate a judge who would pursue an investigation into claims that French citizens are exposed to discrimination because of the way in which extra-territorial US tax rules operate, Antoine Vey told AFP, the French news agency.
The .
The AFP report said that previous lawsuits, including one filed against France with the European Commission last October, have failed to prompt any official inquiries from prosecutors so far.
There have been moves by firms to try and ease the financial access plight of US expats in continental Europe. For example, in October 2018 London & Capital, the wealth manager with a special focus on serving expat Americans and clients with links to the US, launched a service for US expats in France.
Targeted at the estimated 100,000 Americans who live and work in France, the firm advises clients on local French and US tax regulations as well as giving tailored investment advice on how to put financial ideas into action. The service also covers the management of domestic US and European assets such as retirement accounts. London & Capital offers wealth planning, investment management and reporting services to its clients.