Wachovia Closes Accounts of Muslims, Islamic Charity

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I mean this is ridiculous - how much more price do we have to pay.

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Wachovia Closes Accounts of Muslims, Islamic Charity

CAIR ACTION ALERT # 491

WACHOVIA CLOSES ACCOUNTS OF MUSLIMS, ISLAMIC CHARITY
Urge Bank to Explain its Action Against American Muslims

(WASHINGTON, DC, 5/8/2006) - CAIR and the MAS Freedom Foundation today called on American Muslims and other people of conscience to urge Wachovia to explain and reverse its decision to close the accounts of several Muslims and the Foundation for Appropriate and Immediate Temporary Help (FAITH) – a small, Northern Virginia charity that provides assistance to people of all faiths.

In November, 2005, Wachovia sent a letter to FAITH announcing that the organization’s accounts would be closed in January, 2006. Wachovia had never previously expressed any concern about the charity. At all times during FAITH’s several-year relationship with Wachovia the organization’s accounts were in good standing.

Despite numerous attempts by FAITH to discuss the issue with Wachovia, the bank’s position remains unsatisfactory. Wachovia Senior Vice President Jeraldine Davis said in a letter to the charity, “As you are aware the Bank’s contract with FAITH provides that the Bank can close any customer’s account at any time…The Bank has determined that FAITH does not fit the business profile of a customer with whom the Bank chooses to transact business.”

"Wachovia’s heavy-handed approach to this small community charity requires explanation,” said CAIR Executive Director Nihad Awad. “Since 9/11, the American Muslim community has noticed disturbing trends within the national banking industry where law-abiding American Muslims are seemingly and summarily being denied service based solely on their name, religion or ethnicity.”

IMMEDIATE ACTIONS REQUESTED: (As always, please be POLITE.)

  1. CONTACT Wachovia and urge them to provide a satisfactory explanation for their decision to close Muslim and FAITH’s accounts, issue a public apology, and reinstate the accounts. COPY TO: [email protected]

Mr. Jeff Gish, Senior Vice President,
Community Relations Executive,
MidAtlantic Region
Wachovia Corporation
Phone: 804-697-7631
Fax: 804-697-7079
E-mail: [email protected]

Wachovia Corporate Communications Department Phone: (704) 374-2138
Wachovia Contact Us Webform: WellsTrade Applications and Forms – Wells Fargo Advisors

  1. EMAIL CAIR at [email protected] and answer the following questions:
    a. Do you have an account or do business with Wachovia?
    b. Are you willing to move your account elsewhere if CAIR calls for a boycott?
    c. Are you aware of any Muslim accounts Wachovia has closed in a similar fashion?
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Re: Wachovia Closes Accounts of Muslims, Islamic Charity

I'm not sure about this charity in question, but there are probably hundreds which are blacklisted and it would be illegal for banks to hold their accounts. They wouldn't do it without reason.

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Re: Wachovia Closes Accounts of Muslims, Islamic Charity


They shouldn't, but the problem is that they didn't pass the reason/info to the charity.

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Re: Wachovia Closes Accounts of Muslims, Islamic Charity

But why would a bank deny themselves so much business for no reason at all? Perhaps this is an extreme case, but if I were that charity I'd just take my account elsewhere. What's the big deal.

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Re: Wachovia Closes Accounts of Muslims, Islamic Charity

First they came for my father and I did not say a word. Then they came for my brother and I did not say a word. Then they came for me and there was nobody left to say anything.

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Re: Wachovia Closes Accounts of Muslims, Islamic Charity


The big deal could be "religious" discrimination. Of course there are tons of other banks open, but if this thing catches fire (slim chances, but still) things won't be good for anyone.

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Re: Wachovia Closes Accounts of Muslims, Islamic Charity

I am not going to blindly support the group or the bank, I would focus on making them disclose the reasons why they are doing this> i mean it would suck if you go support some group and find out the group or some of its officers were doign something inappropriate there.

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Re: Wachovia Closes Accounts of Muslims, Islamic Charity

Well if its a matter of national security, they might not be permitted by the government to release some information.

I don't see the big deal really. Open the account somewhere else if Wachovia doesnt want to take it. Write to newspapers about the story. If legally, the bank can close an account for any reason, then that's what they can do.

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Re: Wachovia Closes Accounts of Muslims, Islamic Charity


But they should still be able to tell that they can't reveal the real reason due to security purposes/national security etc. I don't see how a bank account can be "closed" without police/FBI being involved for any criminal/terrorism investigation.

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Re: Wachovia Closes Accounts of Muslims, Islamic Charity

http://www.timesdispatch.com/servlet/Satellite?pagename=RTD%2FMGArticle%2FRTD_BasicArticle&c=MGArticle&cid=1137835948118&path=!business&s=1045855934855

Wachovia said it would re-examine its decision. “Wachovia contacted FAITH Friday evening and [CAIR yesterday] morning,” said Corey P. Saylor, CAIR’s government affairs director.

“The president’s office said they will investigate closure of the accounts,” Saylor said.