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Banker groups sue U.S. over account reporting rule

Posted By -NO AUTHOR- On 04/19/2013 @ 12:34 am In Money,U.S. | No Comments

(Reuters) Two state banker associations sued the U.S. on Thursday over new rules requiring banks to report account information for non-resident aliens to their home governments as part of an effort to combat tax evasion.

In a lawsuit filed in the federal court in Washington, D.C., the Florida Bankers Association and the Texas Bankers Association said the rules which went into effect on January 1 unfairly burdened banks while discouraging investments.

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