How Confidentiality Laws Harm Bank Customers

Nicholas Anthony

One of the most common problems with debanking is that customers say they were treated like criminals. Despite thinking everything was fine, customers receive a sudden letter saying their account was closed and they can’t know why. They are left in the dark. Yet, what many people don’t know is that banks are required by law to keep you in the dark.

This story has happened countless times. Reporting in the New York Times and other outlets shows that customers...