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ABN Amro drops U.S. customers citing "strategic considerations"

ABN Amro drops U.S. customers citing "strategic considerations"

ABN Amro said Tuesday it was canceling the bank accounts of all customers who hold a U.S. passport and a trading account.
A bank spokesman declined to say why.
"It's nothing to do with the clients themselves, it's due to strategic considerations that we have to stop" banking with Americans, spokesman Hans van Zon said.
"As you know we're undergoing a reorientation of our business."
ABN Amro was acquired by a consortium of banks led by Royal Bank of Scotland PLC last year in the largest takeover in the financial industry.
Dutch financial De Telegraaf reported that the move was due to the high cost of complying with U.S. regulatory laws, but Van Zon couldn't confirm that.
He couldn't say how many customers would be affected, but it was a "relatively small" number. Their accounts are to be terminated in 30 days.


Updated : 2021-04-14 14:17 GMT+08:00