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Thread: I hate banks!

  1. #9
    Hello, I must be going... Not a Number's Avatar
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    That's the State of NY department that ragulates banking. Like the PUC, etc. They should be able to answer your questioins as to regulations regarding how daily debit and credit transactions are handled. As well as what and how penalties can be applied. The bank has to provide you with a statement of their policies, fees and penalties. Have that handy when you contact the NYSBD.

    Mission Statement -
    To allow the financial industry to expand and prosper through judicious regulation and vigilant supervision, to educate and protect consumers while promoting economic growth and ensuring that the financial system is safe and accessible to all.

  2. #10
    Tropical Fish Enthusiast jimscott's Avatar
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    Thanx, I will look into that!

    I am also reminded of another incident that my wife caught. ske made a deposit last year and monitored the activity online, watching the debits come hrough. She noticed that the bank held the deposit and then maniulated the order of the pending debits, such that the most expensive would come through first, causing the overdraft/ If things went though naturally, it wouldn't have happened.

  3. #11
    herenorthere's Avatar
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    I doubt regulations address what happened to you. The banking industry pretty much owns the agencies that regulate it and their people write the regulations. Yes, banks will "correct" those problems if someone calls and is persistent enough, but they (and the credit industry) know that plenty of people won't notice or will figure they can't do anything about it. Regulators exist only to make it appear that the system is honest and it isn't just banking; the same can be said about insurance, nuclear power, nursing homes and other regulated industries. Big business has little to fear from its friends in the regulatory agencies and, in the end, the only thing that keeps things (mostly) honest is the cost of being sued. The regulators are content to beat up the little guys.
    Bruce in CT

    Madness is something rare in individuals but in groups, parties, peoples, ages it is the rule. Friedrich Nietzsche

  4. #12
    Tropical Fish Enthusiast jimscott's Avatar
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    Not terribly encouraging but honest and realistic. I'd love to get these people on 60 Minutes or 20 20! Maybe a litle bit of bad and national press would get their attention?

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