New York Citibank and Chase Bank Branches Accused of Closing Customer Accounts Without Warning.
This article is based on corporate postings and accredited media reports. Linked information within this article is attributed to the following outlets: BestLifeOnline.com and The New York Times.
Major national U.S. banks are reportedly being accused of closing customer accounts without reason or warning. These accounts most frequently include savings, checking, and credit card accounts, and of late have most often been reported regarding New York banks.
Let us explore.
U.S. Banks 2023
According to a November 8th report from BestLifeOnline.com, many if not most of the claims reported and verified are from New York Citibank and Chase Bank customers.
As excerpted from BestLifeOnline.com: In a Nov. 5 report, The New York Times revealed that it had examined over 500 cases of customers being dropped by their banks.
As an example of but one of those cases, BestLifeOnline.com goes on to state, sourcing The New York Times: Bryan Delaney, who has owned several New York City bars, and his business partner Jennifer Maslanka, told the newspaper that Chase abruptly closed the bar’s account this year, along with personal checking and credit-card accounts for Delaney, his wife, and Maslanka.
For specifics and more cases, click on either of the above links.
In terms of bank feedback, the following is further excerpted from BestLifeOnline.com: As The New York Times explained, these abrupt account closures are what banks refer to as “exiting” or “de-risking,” with the goal to crack down on fraud, terrorism, money laundering, human trafficking, and other crimes. But banks appear to be evicting an increasing number of individuals, families, and small-business owners who often have no idea why their banks turned their back on them, per the NYT report.
This is a fast-developing story. In the event of pertinent updates to these matters, inclusive of further such accusations, I will share them here on NewsBreak.