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How Bank of America Gave Away My Money

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Re: How Bank of America Gave Away My Money

#251

Earlier quoted context omitted.

It's not a translation. It's an allusion. Commonly used by evangelicals. You're over thinking it.

Source please? I grew up in an evangelical home and went to church every Sunday - and have never heard of "may his tribe increase" aside from that poem.

It's not just you. Googling "may his tribe increase" and "Genesis 22:17" only finds this thread.

Re: How Bank of America Gave Away My Money

#252

Earlier quoted context omitted.

I wouldn't be surprised if they are specifically barred from doing this to avoid having defendants liquidate their assets right before the confiscate order comes through.

It's not like the only options are "take the money" and "let the customer liquidate it". The middle ground is "notify the customer and freeze the accounts while they're responding".

Which is no different than just taking the money. You can't get a loan against a frozen account, you can't use a frozen account to buy groceries or pay your mortgage, and you can't get an extension on your credit cards because your account is frozen.

Swap out "took my money" with "froze my account" in the article and 90% of the comments here would be identical.

Re: How Bank of America Gave Away My Money

#254

Earlier quoted context omitted.

do you actually listen to NPR? they are hard left. most if not all of their stories are SJW-type stories. I can't even listen to them anymore.

if you think discussion of what is currently fashionable amongst naive Yale undergrads and partisan media sites like Huffington Post constitutes "hard left" you haven't seen "hard left". It continues to disturb me that there are so many people in America that have no idea what the real political spectrum is. Basically the takeaway should be this: if the discussion is something that was brought up AT ALL by the Clinto…

ok, fair point I guess. I still don't like it. can you give me any examples that in your opinion are "hard left" then?

Re: How Bank of America Gave Away My Money

#255
post #252

Earlier quoted context omitted.

It's not like the only options are "take the money" and "let the customer liquidate it". The middle ground is "notify the customer and freeze the accounts while they're responding".

Which is no different than just taking the money. You can't get a loan against a frozen account, you can't use a frozen account to buy groceries or pay your mortgage, and you can't get an extension on your credit cards because your account is frozen. Swap out "took my money" with "froze my account" in the article and 90% of the comments here would be identical.

It is substantially different.

One is an administrative hold that can be lifted by the bank. The other is an inter-bank transfer process that maybe has to go through the courts. The reason the person in this article has had such a hard time is that he has to convince more than just his bank that they screwed up because they don't have his money any more.

Re: How Bank of America Gave Away My Money

#256
Looks like it comes from dispute between a Montclair Place shopping mall sushi restaurant and an investor:

https://www.pacermonitor.com/public/case/8541827/Jeffrey_Lin...

Here is one of the defendants' info:

https://www.myrelatives.com/d/XIAO-LI/1353226340

Looks like he moved from Oregon to North Carolina in May 2014. Here was his old house:

https://www.redfin.com/OR/West-Linn/2245-River-Heights-Cir-9...

Here are the court documents:

https://document.li/r7zs

https://document.li/9xL1

https://document.li/2r4h

https://document.li/ThA6

https://document.li/lQoK

https://document.li/7G1S

https://document.li/Sg8p

https://document.li/0q4m

https://document.li/iYgL

https://document.li/ehHq

Re: How Bank of America Gave Away My Money

#257
post #203
post #158

Earlier quoted context omitted.

How surprising. Not sure if that disproves the entire contents of the study done by the bi-partisan committee, but it's not adding any credibility. Which saddens me as there are legitimate problems in many of these regulatory agencies, but sadly the guys who fight against this stuff are often merely pawns for the interests of mega-corps. Rather than the interests of the general public and small/medium businesses owne…

The reason there aren't more regional banks is precisely because of all the regulations. I have represented numerous small banks over the last decade. Every single one of them has been sold to larger banks because they cannot compete due to the regulations, which require at least one, and more typically two compliance officers just to deal with the red tape created by the CFPB. These people don't contribute anything…

> with the red tape created by the CFPB

I won't disagree with regulations necessarily, but the rate of small banks closing has actually gone down since 2011 when the CFPB was created. It was higher during 2000-2008.

Bank consolidations predate the CFPB. And some of the banks that seem to have had the most issues would not be called small by anyone (e.g. Santander)

Re: How Bank of America Gave Away My Money

#258
post #203

Earlier quoted context omitted.

The reason there aren't more regional banks is precisely because of all the regulations. I have represented numerous small banks over the last decade. Every single one of them has been sold to larger banks because they cannot compete due to the regulations, which require at least one, and more typically two compliance officers just to deal with the red tape created by the CFPB. These people don't contribute anything…

> with the red tape created by the CFPB I won't disagree with regulations necessarily, but the rate of small banks closing has actually gone down since 2011 when the CFPB was created. It was higher during 2000-2008. Bank consolidations predate the CFPB. And some of the banks that seem to have had the most issues would not be called small by anyone (e.g. Santander)

Define "closing". None of the banks I represented "closed". They have all been swallowed up by larger banks.
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