US banks are increasingly closing customers’ accounts and freezing withdrawals without warning, according to a new report.
A growing number of people say they’re abruptly losing access to both their checking and savings accounts, reports CBS Los Angeles.
The report cites the sudden account closure of Elad Nehorai, who received an ominous alert while logging into his Bank of America account.
He then drove to a branch in West LA, where he was told his account had been shut down and access to his life savings was denied.
“Bank of America told me it was shut down. They refused to give me an explanation. They told me I would get my money after it was resolved.
All of a sudden I find out I’m broke. I can’t feed my family and I can’t pay any expenses.”
Banks typically shut down accounts over concerns of suspicious behavior…Read More!