That just means that this is not in response to some specific policy, or else you'd see the other banks doing the same.Jennifer wrote: ↑30 Aug 2018, 17:32Yet the article shows that other megabanks including Citi and Wells Fargo have somehow managed to avoid freezing people's accounts. Furthermore, there are no U.S. citizenship requirements to have a bank account anyway.thoreau wrote: ↑30 Aug 2018, 17:28I doubt that BofA has an anti-immigrant agenda.
I do suspect that in the current climate just about every business will be more hyper-cautious about doing business with non-citizens. This will result in new rules as well as more stringent, punitive, and stupid application of existing rules. Because nobody wants to see a Tweet that goes "I have just learned that [corporation name] has done business with THOUSANDS of illegals! NOT FAIR! Citizens first! I've asked our great Cabinet Secretary [insert misspelled name here] to look into it AT ONCE!!! "
More likely it's that somebody in the elaborate corporate bureaucracy got paranoid, turned some of their procedures up to 11, and there you go. Probably starts with "We need to make sure we're not seen as having anything to do with Cuba or Iran," then a bunch of procedures get tightened in the dumbest way possible, and there you go.
It is utterly predictable that when the government is run by a racist old man who's addicted to Fox News and views the executive branch as a tool for personal vendettas, some (not all) businesses will get paranoid and do stupid shit that hurts people.
Everyone please note that I am neither defending BofA nor asserting any explicit act on the part of Trump. I'm speculating on how crazy shit like this happens in the current environment.