BoA won’t let activists close their accounts at Occupy Santa Cruz:
“You cannot be a protester and a customer at the same time”

Bank Of America Refuses To Allow Customers To Close Their Accounts At ‘Occupy Santa Cruz’ (VIDEO)
October 15, 2011
By Stephen D. Foster Jr.

Two protesters involved with Occupy Santa Cruz in California walked into Bank of America earlier this week to close their own accounts as part of the national protest against the greed and irresponsibility of Wall Street, which has only seen it’s profits soar since it nearly collapsed the economy back in 2008.

So Bank of America naturally closed the accounts, right? Not even close. Rather than allow their customers to close their accounts, they told them that “you can not be a protester and a customer at the same time.” The bank manager threatened to lock the doors and call the police to have their own customers arrested for the simple act of requesting the closure of their own accounts. The two women left the bank and called the police. The officer went into the bank and after talking to the manager, relayed a message to them. According to the bank manager, “If they came in with the signs and they were part of the protest earlier, then they are protesters and cannot be customers at the same time.”

Watch the video.

3 thoughts on “BoA won’t let activists close their accounts at Occupy Santa Cruz:
“You cannot be a protester and a customer at the same time””

  1. Actually you can be a protester and a customer at the same time – it’s called a pissed-off customer. And technically, when you enter a bank to close your account, your intention is to no longer be a customer. They keep calling it a free market, but if it’s so free, why do I feel like the one paying for it?

  2. I closed my BofA account in protest of the bank’s inconsistent policy on availability of funds deposited via out of state checks – even if the check was drawn from another BofA account. I made the reason for closing my account quite clear, and following a brief discussion with the bank’s manager, the account was closed.
    The questions that arise are whether they have a consistent policy regarding who may or may not close a BofA account, is there really a BofA policy that forbids protest by a Bank of America account holder, and how do they discriminate one customer from another?
    Will the bank keep possession of a customer’s funds and continue to debit the account for monthly fees until the customer renounces the protest (or the account is depleted)? How can a protester prove to the bank that he/she has abandoned the protest so that he/she can recover his/her money?
    Is there a waiver of First Amendment rights written into the bank’s Terms and Conditions when an account is opened at Bank of America? If not, will BofA require it’s customers to sign a retroactive waiver of their right to protest. Can BofA freeze a customer’s assets and continue to collect account fees indefinitely, even after the funds have been depleted, and then file lawsuit against the customer for recovery of unpaid fees at a later time?
    Doesn’t the bank make enough money by closing and keeping the funds in small, inactive savings accounts, and by charging usurious interest on personal loans and credit cards while paying fractions of a percentage point in interest on deposit accounts?
    Just curious.

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