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Somalis To Close Accounts If Policy Isn’t Changed

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MINNEAPOLIS (WCCO) – Minnesota is home to the largest Somali community in the nation and Saturday people across the metro rallied against a banking policy that affects the Somali community.

Some banks are not allowing money transfers from Somalis living in Minnesota to their loved ones in their home country.

The banks say they’re concerned about money going to terror groups. But the Somalis say their families are desperate for help in the famine-stricken country.

The community wants the banks to reverse the policy. Protesters say 500 Somali Minnesotans have pledged to close their bank accounts with U.S. Bank and Wells Fargo if no agreement is made by May 11.

U.S .Bank released this statement: “We value our relationship with the Twin Cities Somali community. At the request of leaders in that community, we met with them recently to discuss the gap between their existing process and what is required by federal law.”

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