On another thread last week, Badger wondered what happened to the opinion piece that Maura Drew Lytle of CBA had advised Brock had been submitted to Washington Post.
I sent an e-mail to Maura on Friday. This morning, I received this reply from her.
Yes, we did submit an opinion piece to the Washington Post about FATCA to try to get the attention of U.S. policymakers as part of our strategy to fight for changes to FATCA. They are the ones who have the ability to make changes. Unfortunately, the newspaper did not publish the piece but I have attached it here for your information. Advertising in major U.S. newspapers is prohibitively expensive: this is one of many issues that we work on and we don’t think that it would be the best use of resources. Instead, we are focusing on discussions with the Canadian government and U.S. authorities for a solution that will be more palatable for the situation in Canada. As you’ve seen in my post on the Isaac Brock Society forum, our president also talked about FATCA in speeches this spring and we will continue to look for other opportunities to raise our concerns.I reiterate again that Canadian banks are opposed to FATCA and are well-aware that FATCA, as it is currently written, may contradict Canadian legislation. Discussions are on-going so it is too early to jump to conclusions about what Canadian banks may or may not be required to do to comply with FATCA. We continue to work hard behind the scenes to find a solution to this issue.Best regards, MauraMaura Drew-Lytle | Director, Media Relations and Communications | Directrice, Relations avec les médias et Communications