U.S. expats find their money is no longer welcome at the bank

That happened to Carrie Walczak, an American living in Germany, in May. She received a letter from Deutsche Bank [DBKGSG.UL] informing her that her bank account was going to be closed because she is an American.

Walczak, a 37-year-old from upstate New York, lived in Brussels for seven years with her Belgian husband before moving to Bad Homburg, Germany, where she has resided for the past 18 months. Walczak says the letter informed her of new tax regulations required by the U.S. government, and because of that she is being dropped as a customer.

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