And here I was wondering what my new anxiety for the day would be.
How Bank of America Gave Away My Money
131–140 of 261 posts
Re: How Bank of America Gave Away My Money
#132Earlier quoted context omitted.
https://www.forbes.com/sites/moneybuilder/2012/05/24/bank-er... Every story I have ever heard, ended with the bank basically saying "You owe us money. Pay us it back in 3 days or we are going to the police" Seems not a good plan.
Regardless, it wouldn't have been right to keep the money. Especially since doing so probably would have caused problems for the person who made the misrouted payment.
[deleted]
Re: How Bank of America Gave Away My Money
#133This amount of money seems like it would be a good candidate for small claims court. Can anyone tell me if this guy can use small claims court (which is easy to initiate) to recover the money? I feel like even if he lodged a motion against the branch manager for negligence it might be enough to get things cleared up.
Re: How Bank of America Gave Away My Money
#134Earlier quoted context omitted.
Regardless, it wouldn't have been right to keep the money. Especially since doing so probably would have caused problems for the person who made the misrouted payment.
The bank generated that "money" out of thin air. The big scam is that it's all just ones and zeroes.
That's... not how money works.
Re: How Bank of America Gave Away My Money
#135I know how to handle these dumb fucks. (I had a Mortgage with them, that makes me an expert) I had a problem with them coughing up an escrow refund check, although there is much more to the story that would have most of you boiling. I filed complaints with a total of 3 agencies and received my check via FedEx Priority overnight not long after. Suck it, BofA. * Filed complaint with CFPB * Filed with Texas State Attorn…
CFPB was just called out [1, 2] by Rep. Jeb Hensarling as unaccountable and a "rogue agency". The head of CFPB responded in an interview this morning [3]. Mr. Jiang, you'd better get your complaint in now before they're disbanded! [1] http://www.npr.org/2017/04/05/522756745/head-of-consumer-fin... [2] http://www.npr.org/2017/02/24/516983751/rep-jeb-hensarling-c... [3] http://www.npr.org/2017/04/06/522826544/consumer-…
It says they want to replace the head guy and restructure the agency. This is why:
> A 2013 press release from the House Services Committee (HSC) criticized the CFPB for what was described as a "radical structure" that "is controlled by a single individual who cannot be fired for poor performance and who exercises sole control over the agency, its hiring and its budget." Moreover, the HSC alleged a lack of financial transparency, lack of accountability to Congress or the President, and expressed particular concern about excessive travel costs and a $55 million renovation of CFPB headquarters that was more costly than "the entire annual construction and acquisition budget for GSA for the totality of federal buildings".
Of course it sounds bad that they want to shut down a 'consumer protection' agency. But those sound like legitimate concerns. At a minimum a restructuring sounds like a good thing.
Re: How Bank of America Gave Away My Money
#136If you know a little bit about legal procedure dealing with something like this shouldn't be too hard. You'd file against your local bank based on the address of the branch you go to for an order to show cause hearing where they are tasked to show up and show cause as to why the transfer of money should go forward. You'd state the basic grounds of mistaken identity, propose a temporary restraining order barring any f…
In California, I don't believe you can file against a local branch. You'd need to file against BofA at their central legal location for service, which I believe is in LA. However, I think (though not sure) you can still file the case itself in the county where you reside.
I know this because I recently filed a small claims case that included Chase as a defendant, and this was the process.
The small (<10k) amount of money makes this a bit difficult because that typically falls within the realm of small claims, and they don't move quickly with court dates. My hearing date was about 3 months after filing. Maybe there are special procedures for things that have to move quickly like this?
Re: How Bank of America Gave Away My Money
#137Earlier quoted context omitted.
Absolutely. And he's lucky it was just $4k. What of it was $100k and included money you needed to live and pay the mortgage with? This type of negligence by the bank is downright scary .
It's not clear to me that it's the bank's fault. The court must've done some kind of discovery to send the bank a garnish order. So was the bank lazy and just took money from a similar named account without checking the details? Or did the court identify the wrong defendant and issue a garnish order for the wrong person?
You're right actually. The post doesn't mention whether it was the bank or the sheriffs office that goofed on the name. He also mentions something about his credit union being more competent. That suggests it may have been the sheriff's office that mixed up the names if two separate banks had garnish orders.
Re: How Bank of America Gave Away My Money
#138Earlier quoted context omitted.
Obviously bank didn't even validate SSN: “Is the last four digit of your SSN not 5189 (not the actual digits)?” Sounds like brunt of this mistake lies with the bank.
Or who ever drafted the legal order to the bank. Could have been a typo there, and the bank is just following orders.
A typo that results in a matching social security number?
Unless an incredible coincidence occured, the bank did not match the SSN.
Re: How Bank of America Gave Away My Money
#139I know how to handle these dumb fucks. (I had a Mortgage with them, that makes me an expert) I had a problem with them coughing up an escrow refund check, although there is much more to the story that would have most of you boiling. I filed complaints with a total of 3 agencies and received my check via FedEx Priority overnight not long after. Suck it, BofA. * Filed complaint with CFPB * Filed with Texas State Attorn…
How to handle this: 1) Get your story on the front page of a mid-large news aggregator. 2) Wait.
Re: How Bank of America Gave Away My Money
#140I know how to handle these dumb fucks. (I had a Mortgage with them, that makes me an expert) I had a problem with them coughing up an escrow refund check, although there is much more to the story that would have most of you boiling. I filed complaints with a total of 3 agencies and received my check via FedEx Priority overnight not long after. Suck it, BofA. * Filed complaint with CFPB * Filed with Texas State Attorn…
CFPB was just called out [1, 2] by Rep. Jeb Hensarling as unaccountable and a "rogue agency". The head of CFPB responded in an interview this morning [3]. Mr. Jiang, you'd better get your complaint in now before they're disbanded! [1] http://www.npr.org/2017/04/05/522756745/head-of-consumer-fin... [2] http://www.npr.org/2017/02/24/516983751/rep-jeb-hensarling-c... [3] http://www.npr.org/2017/04/06/522826544/consumer-…
Republicans increasingly find these government ombudsmans as rogue. Companies should get to accost their customers, and if the customers don't like it, take business elsewhere. If a contract is violated, hire a lawyer and sue. Good people have money and can hire good lawyers. If you don't have money, get in line for a pro bono lawyer. It's completely reasonable and fair to have to wait years for this; afterall rich people are better, and therefore they shouldn't have to wait their turn for justice, they can simply buy it. Justice is a product.
That's basically where Republican ideology is at right now. It's openly hostile to anti-trust and anti-fraud law. Without those things, trust burns down. And that leads to dark places. But pretty much I think Republicans are that short sighted and stupid. They're totally consumed by the pursuit of money and exploitation, and are drunk on it.