Members of Congress write to banks & regulators about discriminatory derisking

18 members of Congress have sent 2 letters to the 3 US banks and 4 federal regulators about the difficulties experienced by Muslim not-for-profit organisations’ (NPO) in maintaining access to the financial system. The letter says that derisking practices (closing accounts of clients deemed to be high-risk) lead to “many individuals, entities, and types of activities being inappropriately categorised as …

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About Michael O'Kane

Michael O'Kane

Michael was called to the Bar in 1992 and prior to joining Peters & Peters was a senior specialist prosecutor at the Crown Prosecution Service Headquarters (CPS). He was a key member of a small specialist unit responsible for the prosecution of serious and high-profile fraud, terrorist,...

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