Operation Chokepoint / Bank Account Closures

As reported to members on June 14, 2017

 In response to an increase in calls coming into the AMOA office over the past 4-6 weeks, AMOA Government Relations Committee chair, Emily Dunn and AMOA Executive Vice President, Lori Schneider made a special trip to Washington DC last Thursday to meet with key congressional offices of both the Senate and the House and delivered a strong message—the bank account closures have reached a crisis level for our members and we need relief now.

  As mentioned, the AMOA headquarters has been recently flooded with calls/emails advising us of accounts being closed, banks requiring an enormous amount of personal information, and/or banks substantially raising fees in order to maintain accounts. For those dealing with account closures, it is becoming more and more difficult to find a bank willing to handle their cash.

  During a visit with the office of House Representative Bob Goodlatte (R-VA 6th District) last week, AMOA was immediately extended an invitation to return to Capitol Hill on Thursday, June 22 to take part in an interview session being held with members of Congress and their staff regarding the horrendous impact the abrupt account closures have had on small legitimate businesses…especially cash intensive businesses.

  We thank those members who have reached out to us previously and provided information as it armed us with a strong defense during our visits last week. Please be assured, though, when sending along a copy of any correspondence to AMOA, we eliminate all identifying information except for city and state. Having the city and state enables us to show congressional offices they have constituents directly impacted by this excessive action.

  As AMOA continues to press for answers and relief, here is what you can do to help:

1. Continue to share what you are experiencing whether it be account closures, increased fees or banking questionnaires. We’ve created a portal to make it easy to provide us with information including uploading any documents. Just click here.

As noted above: We will eliminate all identifying information except for city and state.

2. Please contact AMOA Executive Vice President Lori Schneider by email or by phone at 1-800-937-2662 to share your experience.

  AMOA will be conducting a webinar in early July to provide an update as well as talking points for a grass roots initiative asking members to visit with their representatives when they are home for the August recess.