Banking and the Patriot Act

There is NO provision in the Patriot Act which prohibits banks from accepting clients who do not live in the US. However, US banks are looking at the increased diligence provisions in the Patriot Act and using these as an excuse to get rid of any clients who are too difficult to assess. Click here for guidelines to follow if you have problems.

The US Treasury Department has offered to help citizens who have problems with account closures at US banks. If you are notified of account closure of an existing account by a US national bank (i.e. not a “local” bank), you can file a complaint with the Customer Assistance Group of the Treasury Dept.  www.occ.treas.gov/customer.htm . You should also consider filing a complaint with the Consumer Finance Protection Bureau www.consumerfinance.gov/complaint and the Federal Reserve https://www.federalreserveconsumerhelp.gov/complaint/formcomplaint.cfm

ACA, Inc. as well as the Congressional Americans Abroad Caucus are very interested in getting feedback from people who use these resources. And also, ACA, Inc. recommends that you write your own representative in Congress about your banking problems.

Last Updated July 12, 2014