I am a British citizen born to an American mother in Britain.
I went to my local bank in England recently to open a high interest savings account. At one point the clerk asked me if I am a U.S. citizen. Not seeing why that would be his business, I said no.
I understand now that the bank is required to ask this so they can report all their U.S. citizens to the American IRS under FATCA.
How should I proceed at this point? Did I break British law, U.S. law, or just my bank's terms and conditions?