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The reports began trickling in to online discussion boards and neighborhood news, starting in 2017. The stories all followed roughly the same pattern: Bank of America sent a customer a notice demanding details about their citizenshipвЂ”and if they refused to answer, their accounts were promptly frozen from Reddit to The Kansas City Star, Washington to New York.
Away from united states of america, this really is an ordinary training. A large number of nations have actually consented to the most popular Reporting Standard directed at fighting taxation evasion, and started gathering citizenship information as an element of that work in 2017.
This tale had been produced with help through the Economic Hardship Reporting venture.
But stateside, these reports have actually raised worries that banking institutions could, at the very least theoretically, assist the authorities identify and target immigrants. In britain the banking industry was already faced with gathering informative data on foreigners included in a larger intend to develop a вЂњhostile environmentвЂќ for undocumented immigrants. Immigrants and advocates worry america could possibly be next. Continue reading “Exactly why is Bank of America Asking Customers About Their Citizenship?”