Uh-oh….Bank ACTION… Hold the wire…
UPDATE: You should familiarize yourself with the STOCK MARKET CRASH of 1929, post-haste!:
The account terminations are due, in part, to a sweeping bureaucratic security process that’s supposed to thwart criminals and stop fraud, terrorism, money laundering and human trafficking.
But the closures are placing honest people and businesses in dire financial straits, with banks often taking WEEKS to send account balances after termination.
And although abrupt account closures appear to be on the rise, banks ARE NOT REQUIRED to REPORT details on how many accounts are being shut down – or HOW OFTEN they make a MISTAKE.
JPMorgan Chase spokesperson Jerry Dubrowski says the bank is following the law and so-called “de-risking” shutdowns are typically justified.

“We act in accordance with our compliance program, consistent with our regulatory obligations. We know that can be frustrating to clients, but we must follow those obligations…
The vast majority of closures are correct, consistent with the regulatory obligations we are required to follow.”
JPMorgan is also accused of exiling customers due to their religious or political beliefs. Back in May, attorneys general in 19 states sent a letter to the bank’s CEO Jamie Dimon, stating that the financial giant has VIOLATED its OWN POLICIES on EQUALITY when shuttering accounts.