This sounds like what I heard from a lot of non-US financial companies when I used to be American and then didn't want to open accounts. Frustrating but predictable and probably intended outcome from regulator behavior.
- "you have a niche web browser which breaks our js fingerprinting so screw you"
- "you had a dispute on your airbnb account and we don't have time to figure out whether you or the host are wrong so we'll just kick you both off"
If that sounds shitty, we also have:
- Another company had marked you as risky, and since we trade risk profiles with each other, we just don't want to deal with you.
Except in most cases you won't ever learn the reason, much less have a fair appeals process.
I have a feeling we have a LOT more of this than people think already, but companies aren't talking about it and it's not regulated except for a few sectors. In the future though, it'll be a lot more. With the expansion of tracking, we're gonna get a LOT more persona non grata/shadowbanning and social credit systems.
It actually costs you money, $2,350, to give up your citizenship.
The filings to give up a Green Card is equally byzantine.
FACTA requires an overseas bank to identify US account holders and then report their personal and other details to the IRS, including balances and withdrawals.
So now some bank in a foreign country has to not only do due diligence on you and as soon as you say you are a US taxpayer or there are signs you are, it is required to report your account to the IRS, and if it doesn't it's subject to a 30% withholding tax on transfers to it as an institution from the US.
Of course, under the rules, it's up to the bank to be careful, but the local tax authority doesn't care, so often there's a "Don't Ask, Don't Tell" sort of attitude.