Senate Committee on Banking Introduces Whistleblower Resource
For years, NIAC has tracked reports of Iranians and Iranian Americans who have faced discrimination by U.S. banks solely on the basis of their national heritage and has simultaneously worked to protect and push back against such discrimination. Concerningly, Bank of America itself revealed in a recent lawsuit that it restricted the accounts of more […]
NIAC Sends Letter to Wells Fargo Bank Calling Out Discrimination Against Iranians
Washington, DC – In recent months, the National Iranian American Council (NIAC) has fielded a significant number of complaints regarding Wells Fargo’s treatment of its customers of Iranian heritage. This includes abrupt account closures and demands to sign an “Iran Declaration,” which requires those who sign it to declare they have no intent to return […]
NIAC Submits Public Comment on Proposed Rule to Address Banking Discrimination
In July 2024, the Department of Treasury and the Financial Crimes Enforcement Network put forth a proposed rule to strengthen and modernize the way that financial institutions conduct their Anti-Money Laundering (AML) and Countering the Finance of Terrorism (CFT) Programs. To date, these are the very programs which have contributed to the ongoing pattern of […]