Bank's Closing of Muslim Charity Accounts Sparks Protest
By: Administrative Account | Source: CNSNews.com
May 9, 2006 10:00AM EST

By Monisha Bansal
CNSNews.com Staff Writer
May 09, 2006

(CNSNews.com) - Muslim American groups Monday lashed out at Wachovia Corp., accusing the banking company of discrimination, for closing the accounts of a Muslim charity.

Wachovia first notified the Foundation for Appropriate and Immediate Temporary Help (FAITH), based out of Herndon, Va., that the group's accounts would be closed in November 2005.

"We had no notice or anything before that. It is their right to do so, but there is also a why. Why did you do that?" Margaret Farchtchi, treasurer of FAITH, complained.

The Council for American Islamic Relations (CAIR) and the MAS Freedom Foundation joined FAITH Monday in protesting Wachovia outside one of the bank's branches in Washington, D.C.

"We've talked with them many times, we've sent them letters requesting this information and the only thing they have responded to us with is that they have the right to do this and they are doing it," said Farchtchi.

"It is not their right to do that if it is discriminatory," she told Cybercast News Service. "I don't know if they are doing this to any other organizations, or if it is just our organization. We don't see a reason for this action being taken and we are completely shocked by it."

CAIR's executive director, Nihad Awad, said Wachovia's "heavy-handed approach to this small community charity requires explanation."

"Since 9/11, the American Muslim community has noticed disturbing trends within the national banking community, where law-abiding American Muslims are seemingly and summarily being denied service based solely on their name, religion or ethnicity," Awad said.

While Wachovia did not return telephone calls seeking comment for this article, the Washington Post quoted Wachovia spokesman Scott Silvestri on Saturday. "Wachovia is committed to conducting business and operations with the highest ethical standards and in full compliance with applicable laws," Silvestri told the Post. "It is also the company's long-standing policy not to comment on customer relationships."

Subscribe to the free CNSNews.com daily E-Brief.

E-mail a comment or news tip to Monisha Bansal.

Send a Letter to the Editor about this article.

Email this Article

Printer Friendly Version