Whipping boys: foreign banks in America

Article Abstract:

The Foreign Bank Supervision Enhancement Act is being criticized as too strict , and some fear that it may discourage foreign banks from doing business in the US. The law places foreign banks under the authority of the Federal Reserve Board and the Office of the Comptroller of the Currency.

Laws, regulations and rules, United States. Federal Reserve Board, Foreign banks

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Squeeze the foreigners: taxation

Article Abstract:

Congress is proposing the Foreign Income Tax Rationalization and Simplification Act of 1992, which would make taxation simple for US businesses in foreign countries. Supporters of the bill are proposing higher taxes for foreign businesses to make up for the high costs created by the law.

Interpretation and construction, Taxation, Tax law, Foreign corporations

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