I'll be watching for that. Since all my BoA transactions are 100% legal and do not involve fraud I would consider that type of action libel on BoA's part. I will be pulling a ChexSystem report about month end. Naturally, I will need to replace the closed accounts with others because they are integral to my business model and I would hate to have libel cause me financial damage. There is something to be said for the formal AMEX FR process versus the BoA loose cannon process. Certainly, the FR process fulfills the "know your customer" aspect of federally mandated anti-money laundering efforts. But then if banks paid more attention to developing internal controls we would never read about them illegally gaming rates, like Barclays, or illegally invading and destroying homes, like Wells Fargo, or illegally forclosing, like BoA, or illegally disclosing customer information, like another institution I alerted to seal the exposure.
Originally Posted by
GoGreen
BOA closed my new checking account (because a large check I deposited wasn't honored, however I was able to prove it was another bank's fault and so BOA re-opened my account and gave me back my $40 research fee). Anyhow, a month later I tried to open a checking account at another bank and was denied, based on the ChexSystem report. Unbeknownst to me, BOA had reported me for "SUSPICION OF FRAUD." Aloha, you might want to get your free annual ChexSystem report, actually everyone might want to do that. You can get it online just like getting your credit report; they mail it to you within five days. BOA reported the SOF about ten days after they closed the account, actually the same day that they re-opened it. After I contacted BOA about the SOF they took action to have it removed but said it takes 30 days. (Aloha please PM me re reticulitermes flavipes.)