
Bank of America freezing accounts of customers suspected of not being citizens - mathgenius
https://www.sacbee.com/news/business/article217567300.html
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pseingatl
Part of the problem is that BoA gets information from social media. Foreign
contacts means possible foreign citizenship or status. The UM student cited in
the article is Iranian; maintaining bank accounts for Iranian nationals is
toxic because of sanctions and transactions with Iran. BoA wants to avoid
fines by cutting what is a very small sector for them.

Apart from social media, local DEA/ICE officials routinely ask for information
on customers who are foreign nationals. Responding to these requests is costly
for the bank, as the government does not reimburse the banks' compliance
efforts. In their view, better to stop doing business with foreign nationals
altogether. Not right, but there's a reason why they do what they do.

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dylanhassinger
hope this applies to Russians too

