Core Points - U.S. banks have the legal right to close accounts without prior notice, which can happen for various reasons [1][3][4] - Prolonged inactivity is a common reason for account closure, with specific banks like Wells Fargo and JP Morgan Chase closing accounts after 16 and 18 months of inactivity, respectively [3] - Other reasons for account closure include excessive overdraft fees, low balances, and suspected fraud or suspicious activity [4] Consumer Protection Measures - Some states, such as New York, are proposing legislation that requires banks to notify customers before closing accounts and to return any remaining funds [5] - Consumers are advised to act quickly if they receive a closure notice or if their account is unexpectedly shut down, to resolve the issue and protect their financial standing [5][6] Recommended Actions - In the event of account closure, consumers should contact their bank immediately to understand the reasons for the closure and how to retrieve any remaining balances [6] - It is important for consumers to inquire about settling any outstanding amounts if they owe money [6]