Account Closures and Refusal to Open New Accounts (Bank, Brokerage, Finance, Credit, etc.)
ADC has received an increasing number of reports from Arab-Americans who have had their bank and brokerage accounts closed for no clear reason. We have also received reports of Arab-Americans being denied the opportunity to open new bank accounts, including standard checking and saving accounts. In many cases, it appears that the accounts are being closed, frozen, or denied due to their Arabic background and/or connection with Arab countries. The financial institution often cites the Patriot Act generally as the reason for the account closure, but refuses to provide a more specific reason for the account closure.
It is very important that each account closure or denial incident is reported to the ADC Legal Department, so that we can work to properly resolve the issue and address any underlying discrimination. If your account has been closed or frozen, click here to report the incident to the ADC Legal Department. (Be sure to include the name of the financial institution in the incident report.)