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Category: Business Law
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Hi, I run a business that has been in litigation with the FTC

Customer Question

Hi, I run a business that has been in litigation with the FTC for the last 4 years. I settled with them with no admission of any wrongdoing. During that time I have had my bank accounts "closed" by four different banks. They always say the same thing: "we have the right under our agreement to close your accounts whenever we want. And we don't have to tell you why we are closing your account." And they never do, but there has never been an actual banking issue with any of my accounts, such as overdrafts, NSF checks, fraud or any normal problem. I have always assumed that these closings have been somehow related to the FTC case, but now that I am on my 5th bank, I am wondering if there is some "blacklisting" or "redlining" or unconstitutional discrimination going on. Can I sue to keep my current bank (Chase) from closing my accounts? Thats all I want. I should disclose that I am a Florida attorney but have no special expertise in this area of banking law.
Submitted: 6 years ago.
Category: Business Law
Expert:  INFOLAWYER replied 6 years ago.
Hello and thank you for your question.What do you want to accomplish?
Customer: replied 6 years ago.
My question was clear; what I want to accomplish is keeping my accounts open with my current bank, or get money damages if they are blacklisting me or illegally discriminating.
Expert:  INFOLAWYER replied 6 years ago.
How much are your damages?
Customer: replied 6 years ago.
I don't know what damages are for blacklisting or illegal discrimination. Right now, I can say there is substantial inconvenience in having to change banks, and probably a few hundred dollars a month in fees and charges that will be incurred theoretically forever as a result.
Expert:  INFOLAWYER replied 6 years ago.
Absent a financial Loss I do not see a lawsuit here.

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