Can a Bank Close a CD Soon After It's Opened? [FW]

Fatwallet member posts about an unsettling experience he had with a bank:

I recently opened a new certificate and after less than two weeks I received a notice from the bank that they are closing my certificate because they've decided my mailing address is beyond their marketing area. Totally bogus excuse just to not honor the contract.

If you are outside the bank's market area, the bank will typically reject you in the application. I haven't seen a case like this.