Who the Petition is Addressed To:

• Consumer Financial Protection Bureau (CFPB)
• Office of the Comptroller of the Currency (OCC)
• U.S. Congress
• State Banking Regulators

Petition Description:

We, the undersigned, demand urgent action to stop banks from arbitrarily closing consumer and business accounts without due process.

Thousands of individuals and small business owners across the country have had their bank accounts closed with little to no warning, often due to vague and unsubstantiated fraud claims. These closures leave customers financially stranded, blocking access to their funds, destroying credit histories, and harming businesses. Worse, banks often refuse to provide clear reasons for these closures or a means for customers to challenge the decision.

Why This Matters:

• Financial Hardship: Customers lose access to essential funds without recourse, causing unpaid bills, missed payrolls, and business disruptions.
• Lack of Transparency: Banks often cite "suspicious activity" without providing evidence, preventing consumers from defending themselves.
• No Formal Appeals Process: Customers have no standardized way to challenge wrongful account closures.
• Credit & Business Damage: Account closures can hurt personal and business credit scores, leading to long-term financial harm.
• Inconsistent Policies: Banks have unchecked authority to close accounts with little oversight or accountability.

Our Demands:

We urge regulators and lawmakers to implement the following protections for consumers and small business owners:

1. Mandatory 30-Day Written Notice for Account Closures – Except in proven cases of criminal fraud, banks must give account holders sufficient time to access funds and find alternative banking solutions.
2. A Fair and Transparent Appeals Process – Consumers and businesses should have the right to challenge and appeal wrongful closures before accounts are permanently terminated.
3. Regulatory Oversight on Banking Practices – The CFPB, OCC, and state regulators must increase scrutiny on banks that close accounts without justification.
4. Fines for Unjustified Account Closures – Banks should face financial penalties for wrongfully closing accounts and failing to provide transparency.
5. Protection from Negative Credit Reporting – Account closures should not negatively impact credit scores unless fraud or wrongdoing is proven.

Sign This Petition!

We call on lawmakers and regulators to take immediate action to stop these unfair banking practices. No consumer or business should be left without access to their money due to vague or unfounded fraud claims.

Join us in demanding banking justice! Sign and share this petition today!