Bank of America Engaging with Trump Administration, Congress on Regulations Impacting Customer Relationships
Bank of America will collaborate with the Trump administration and Congress to address regulations that potentially lead to the bank exiting banking relationships with customers, a spokesperson announced on Friday.
President Trump recently singled out JPMorgan Chase and Bank of America for terminating customer accounts. Both banks have refuted any politically motivated decisions in their banking practices.
"We view this matter with utmost seriousness," a BofA spokesperson stated. "We will engage with the administration and Congress concerning the comprehensive government regulations that occasionally necessitate the termination of relationships."