

US Banks: Give African Embassies a Bank Account


US Banks: Give African Embassies a Bank Account
The Issue
Two major banks, HSBC USA and Bank of America, have determined that certain clients are not worth the their time: Africans.
Bank of America has closed the bank accounts of the Angolan embassy in Washington, DC, just three months after HSBC USA closed the embassy's accounts as well.
The move is the latest in a growing financial and diplomatic crises concerning the finances of African embassies in the US, over a dozen of which are said to be facing frozen or closed bank accounts, from the Central African Republic and Democratic Republic of Congo to Burkina Faso, Burundi, Sierra Leone and Swaziland.
"Some banks feel it's just not worth their time anymore, it's a cost of business they don't want to deal with," a US State Department official recently said.
The banks are under pressure to help rout out money laundering and corruption, but that does not justify blocking the ability of Africa's most senior diplomats from going about their business.
Tell Bank of America and HSBC USA that it is not acceptable to discriminate against African embassies because of the work involved in abiding by domestic and international oversight regulations.

The Issue
Two major banks, HSBC USA and Bank of America, have determined that certain clients are not worth the their time: Africans.
Bank of America has closed the bank accounts of the Angolan embassy in Washington, DC, just three months after HSBC USA closed the embassy's accounts as well.
The move is the latest in a growing financial and diplomatic crises concerning the finances of African embassies in the US, over a dozen of which are said to be facing frozen or closed bank accounts, from the Central African Republic and Democratic Republic of Congo to Burkina Faso, Burundi, Sierra Leone and Swaziland.
"Some banks feel it's just not worth their time anymore, it's a cost of business they don't want to deal with," a US State Department official recently said.
The banks are under pressure to help rout out money laundering and corruption, but that does not justify blocking the ability of Africa's most senior diplomats from going about their business.
Tell Bank of America and HSBC USA that it is not acceptable to discriminate against African embassies because of the work involved in abiding by domestic and international oversight regulations.

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Petition created on November 23, 2010