Officials at the University of Minnesota-Twin Cities are concerned that TCF Bank -- which the university exclusively permits to market accounts linked to student identification cards -- is closing the accounts of students from Iran, The Star Tribune reported. Bank officials said that they are not targeting students, but are complying with federal regulations concerning funds from certain groups in Iran. The bank said it was open to reviewing the accounts of the Iranian students, and possibly restoring them. University officials said that they should have been notified, and might have been able to work this out without the students losing their accounts.
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