Legal Question in Business Law in Texas
Business bank Account closing
We own a car Dealership and our bank called us yesterday saying that they will be closing our account by end of the month due to two cash transaction within 48 hour one for $8900 and other for $900 ( close to $10,000 Tax limit ). is this legal? we believe this because we are middle estern, becaue they have asked us before if we send any money oversees. is this legal to close a buisiness account that has been operation for the past 12 years?
Asked on 6/19/09, 5:15 pm
1 Answer from Attorneys
James Grissom
Law Office of James P. Grissom
Re: Business bank Account closing
Aha! It's called discrimination. Neither state nor federal banking laws allow discrimination. Contact me by email if you want to discuss this further.
Answered on 6/19/09, 5:40 pm
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