The Alarming Trend of US Banks Abruptly Closing Customer Accounts.

US banks are abruptly closing innocent customers' accounts without warning due to supposed suspicious activity, leading to customers discovering something is wrong when they try to spend their money. These closures appear to be connected to efforts to catch illicit activity, but only a small percentage of Suspicious Activity Reports (SARs) submitted by banks to law enforcement result in a follow-up. Chase, which has a history of financial violations, recently cut a customer's account with no explanation, but later launched an investigation and could not confirm any wrongdoing.