TCF shutters accounts for some Iranian students - KTTC Rochester, Austin, Mason City News, Weather and Sports

TCF shutters accounts for some Iranian students

Posted:

MINNEAPOLIS (AP) -- Some Iranian students at the University of Minnesota say their TCF Bank accounts are being closed without explanation.

One student, Amir Shiva, tells the Star Tribune (http://bit.ly/VLIhbJ) that he and his wife got a notification letter last month on the account they've had for five years. Shiva says he knows of 22 other Iranian students who got the same letter.

Shiva says a bank representative told him the closure was due to new regulations, but couldn't elaborate.

TCF Bank spokesman Jason Korstange says the closures are due to regulations from the Office of Foreign Assets Control. That's an arm of the U.S. Treasury that administers any economic and trade sanctions against foreign countries.

Korstange says TCF isn't targeting international students. He says students can contest the account closures.

Powered by WorldNow
All content © Copyright 2001 - 2014 WorldNow and KTTC, a Quincy station.
All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service and Mobile Privacy Policy & Terms of Service.

Persons with disabilities who need assistance with issues relating to the content of this station's public inspection file should contact Administrative Assistant Jodi Neyens at (507) 280-5104. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, at 888-835-5322 (TTY) or at fccinfo@fcc.gov.