Tax Expert David Selig: NYT Wrong on Immigrant Banking Crackdown

Monday, 07 Jul 2014 03:37 PM

By Courtney Coren

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Federal tax practitioner David Selig says that the report by The New York Times, claiming that banks are curbing the deposits made by immigrants to relatives in their home countries "is a total lie."

According to Selig, "the good folks at the Gray Lady" didn't just "tell a little lie" but a "whopper."

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"There are more remittances, transfers, and exchanges of hard currency from the United States to Mexico, Latin America, and Africa than there have ever been," Selig told J.D. Hayworth and Miranda Khan on "America's Forum" on Newsmax TV. "I would dispense this story like so much dross."

The federal tax practitioner says that what is going on at banks across the country is the opposite of crackdown.

"It is a planted piece of propaganda," he contends. "The fact of the matter is the administration has done everything it possibly could to reduce the fees of transferring money, remitting money out of the country. They have put onerous restrictions on the various banks to facilitate these transfers.

"They can't even inquire as to the nature of the monies, which is just absolutely wrong," he added.


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