Bank of America has previously confirmed that it can and will close accounts if they are deemed inactive due to state ...

But before the bank would close the account, it may issue a letter to the customer informing them that their account is considered abandoned, and the account "may be turned over to the state under ...

Is Bank of America closing bank accounts? Yes, but it isn’t a new practice. A spokesperson for Bank of America refuted claims ...

Escheatment is the process by which a financial institution must report and remit any abandoned or unclaimed property for ...

The financial institution has announced that it will close some accounts if account holders don’t take certain proactive ...

You will need to follow the instructions on your letter to contact the bank and prevent escheatment ... As of now, there have ...

Bank of America customers risk losing access to their funds as account closures expand under state laws, but there are ways to avoid it.

Every bank is required to follow state laws on what to do with abandoned accounts," the spokesperson said on Friday, March 28. But before the bank would close the account, it may issue a letter to the ...

Clients of Swiss bank PostFinance living in Cuba have in recent weeks received notifications that their accounts will be closed, Swiss public broadcaster SRF said on Friday, citing U.S. sanctions ...