José Antonio Ocampo — a world-renowned economist, former Colombian finance minister, and former nominee to head the World Bank — has filed a complaint with the Consumer Financial Protection Bureau against JPMorgan.

“Friday was hell for me,” Ocampo told the FT. “I had all my money frozen. I am being treated like a criminal.”

 

The bank says Ocampo's account was shut down because JPM is reevaluating its business with "politically exposed persons" like non-U.S. former high-level diplomats (think the Tony Blairs of the world) because of high compliance costs. It's all part of a new effort at the bank to clamp down on any potential for money laundering or security breaches.

The bank paid $2 billion in fines for such violations last year.