The list of bank accounts at Wells Fargo belonging to Cuban-born clients whose accounts have been frozen by the American bank due to concerns regarding the owners' immigration status continues to grow, as they are requested to sign a sworn statement about Cuba.
“What bothers me is that Wells Fargo never notified me. I realize when my company makes the deposit that I see it doesn't arrive”, said Akmel Díaz Reyes, one of the affected individuals who was denied access to his money for 20 days, in statements to Telemundo 51.
His viewpoint coincides with that of previous interviewees, who have agreed in questioning the way the company carries out that process, without prior notice to its customers.
Interrogated about the matter, Karel Suárez, a lawyer specialized in commercial operations, warns that when clients sign their first contract with a bank, they are granting the banking entity a "significant power."
“Banks, at the beginning, when one creates an account, there is a contract that basically gives the bank full authority to do many things. The bank can freeze the account to investigate various matters, such as how the money is used, where it comes from, among other issues,” he explained.
However, some clients, beyond the formalities—which they do not consider the best since the entity does not notify them about the freezing of the deposited funds—deem the level of intrusion excessive.
“What does Wells Fargo have to do with whether I was a member? I'm not, of course. These are things I don't understand,” said the Cuban Akmel Díaz Reyes, who described the affidavit required by the bank as “invasive.”
The document requires customers to ensure that they have no ties to repressive entities of the regime and compels them to promise to inform the bank of any potential plans to return to live in Cuba.
Regarding that point, lawyer Karel Suárez clarified that it is a way for Wells Fargo to protect itself in case the OFAC (Office of Foreign Assets Control) comes later and tells them that they did not handle things as they should have.
The mentioned media outlet notes that Wells Fargo has stated that they carry out this process in accordance with regulatory requirements and U.S. sanctions on Cuba, although the Federal Guidelines do not require a sworn statement or account blocking.
In its latest statements to Telemundo 51, the company said it is "doing everything possible to assist affected customers and minimize inconveniences for them", while suggesting that those impacted visit their bank branch and provide the necessary information as soon as possible.
At the beginning of December, it was reported that two Cuban Americans who own the bar Cubata, located in Little Havana, had been unable to pay their employees and suppliers because Wells Fargo had frozen their bank accounts.
During the same days, a case emerged regarding a Wells Fargo branch in Hialeah that unexpectedly froze the accounts of a Cuban permanent resident in the U.S. since the 90s and his wife, a citizen of American origin.
At the moment, Wells Fargo has not specified how many clients are affected by this process, nor the criteria for requiring the signing of the affidavit.
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