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Bank of America responds to backlash about citizenship questions

Bank of America is facing a backlash after customers claimed their accounts were frozen when they declined to answer questions about their citizenship.

Here is Bank of America’s response: 

“All banks are required to maintain complete and accurate records for all of their customers. This is not unique to Bank of America and all of our customers are asked to provide the same information.

Customers are asked to provide information banks need to meet a variety of requirements, including those related to economic sanctions, anti-money-laundering, and other programs administered by the US Treasury and other government agencies.”

Bank of America does not have any locations in the Tri-State but has several in urban areas around universities like Indiana University.

Eyewitness News has reached out to the Department of Financial Institutions for more details on those requirements, but we have not received a response.

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(This story was originally published August 8, 2018)

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