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 […]
Panel Recap: Not Going Back: Civil Rights, Immigration, and Representation in the Next Administration
Not Going Back: Civil Rights, Immigration, and Representation in the Next Administration “This is an existential crisis because their message is ‘get out!’ I don’t know how to make that more clear.” warned Representative Gene Wu – a legislator in the Texas House of Representatives representing the 137th District – speaking on a panel addressing […]
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 […]
Representative Ilhan Omar (D-MN) and Senator Elizabeth Warren (D-MA) Lead Against Banking Discrimination
For years, Iranian Americans, Iranian nationals and other minority groups have been discriminated against by U.S. financial institutions who close or restrict their accounts with little to no warning. This process, which is done in an apparent overcompliance with broad sanctions on Iran, is known as “de-risking.” These incidents have been well documented, with closures […]
Sanctions Are More Important Than Your Civil Rights
By Jamal Abdi Iranian Americans who have had their bank accounts closed or who have been subjected to invasive and persistent questioning by their banks because of their Iranian heritage were dealt another blow in the effort to stop banking discrimination. Two years ago, Bank of America was sued for shutting down the bank account […]
Judge Sides with Bank of America Against Discrimination Lawsuit
San Diego, California – The Southern District Court of California issued a sweeping ruling in favor of Bank of America in the ground-breaking class action lawsuit that alleged the bank had discriminated against Iranian Americans in its efforts to comply with U.S. sanctions on Iran. While this ruling is deeply disappointing to the more than […]
Bank of America is being sued for discriminating against Iranians
The case, Nia v. Bank of America, could have a significant impact on efforts to safeguard civil rights and equitable financial access for Iranian Americans. NIAC, which has consulted the plaintiff’s legal team and worked to combat the issue of banks closing the accounts of Iranian Americans.