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Royal Bank of Canada limiting accounts to Certain People because of U.S. law

By Critical_Conformity     Jan 16, 2007 in World
People from certain nationalities cannot open an American Dollar account at the Royal Bank of Canada in canada, and this has been happening for a while now.
Canadian citizens with dual citizenship in Iran, Iraq, Cuba, Sudan, North Korea, Myanmar, just to name a few are affected.
A spokes person for the bank has stated the Royal Bank is conforming with U.S. Treasury Department laws.
A spokesperson for the Federal Finance Department of Canada said it was unaware of the practice, and that the bank could be liable for heavy fines.
Last week, a range of companies such as Bell Helicopter banned employees from working on a U.S. contracts because of their nationalities.
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