Legal
BofA Wins Dismissal of Iranian Discrimination Lawsuit Claims
- Judge says BofA acted in good faith in sanctions review policy
- Lawsuit said bank restricted or closed 15,000 Iranian accounts
The ruling is a victory for banks, which have latitude in deciding how to follow the complex and changing sanctions imposed by Treasury.
Photographer: Mark Kauzlarich/BloombergBank of America Corp. won dismissal of a lawsuit’s claims that it discriminates against Iranians in reviewing customer accounts to ensure they comply with US sanctions policies.
The bank didn’t violate US civil rights law by cutting off the credit card of Farshad Abdollah-Nia, an Iranian postdoctoral fellow in San Diego with permanent-resident status, a federal judge ruled Tuesday. The judge also rejected class-action status for the suit, which alleges the lender restricted or closed accounts of as many as 15,000 Iranian Americans.