Bank of America is under scrutiny following allegations of account closures affecting various customers, including conservative and Christian activist groups. President Donald Trump has criticized the bank's CEO, Brian Moynihan, urging the reopening of these accounts and suggesting potential regulatory pressures influenced the closures.
Bank's Response:
Bank of America has denied these claims, stating they do not engage in politically motivated account closures and adhere strictly to legal and regulatory standards.
Customer Advisory:
To prevent account issues:
📌Maintain Regular Activity: Engage in periodic transactions to keep accounts active.
📌Monitor Communications: Stay alert for any notices from the bank regarding account status.
📌Update Information: Ensure personal details are current to receive timely notifications.
