WHEN BANKS STEAL
Not all banks steal from their customers; however, there is at least one banking institution that does using various ploys to obtain money that does not rightfully belong to it. That bank is U.S. Bank and it will set up a free checking account for it customers, then add charges, not pennies and nickels, but hundreds if not thousands of dollars.
When the customer takes note of these unwarranted charges and makes an inquiry, bank officials flatly refuse to discuss the issues with the customer. Another device that U.S. Bank employs to obtain cash from it customers is to divert funds intended for one account into another account. After the dirty deed is done, U.S. Bank charges the customer a late fee, even though the payment was made on time. U.S. Bank officials wait until the due date is past then and only then contact the customer informing the customer the payment was deposited in a different account then that which the payment was intended.
When the customer receives the next payment notice, U.S. Bank insists the customer now owes two monthly payments and an additional late charge. Naturally, the customer complains, but those complaints fall upon deaf ears.
U.S. Bank uses other questionable methods to enrich its coffers, according to published accounts U.S. Bank is collecting millions in bailout funds from the U.S. Government (our tax dollars) to purchase other banks/interests. The great bailout of 2008 was not intended to be used to acquire wealth, instead it was designed to assist struggling financial institutions during the “economic crisis”.
According to published accounts U.S. Bank is also adept at stealing from its employees. One such published article states, “Minneapolis based U.S. Bank paid almost $141,000.00 in unpaid minimum wage and overtime pay to 464 workers in 21 states after a U.S. Department of Labor investigation.” A U.S. Bank representative said, “This payment was made based on an agreement with the Department of Labor with no admission of liability.”
An agreement with the U.S. Department of Labor to pay what is due is not a trivial matter and it seems that since the agreement was made liability (legal responsibility) certainly exists. Suppose U.S. Bank did not make the agreement with the Department of Labor, would that create civil and/or criminal liability for U.S. Bank? It would certainly seem that would be the case.
Tags: Honesty is a virtue
