Your Banker Is Not Your Friend

[Madeline]

I like the personal touch that Vito, Guido & Angelo delivered to the customers when they were late on payments. It was much more intimate than the mundane legal hoops & high fees charge to customers now.

I agree. And Vito dressed better than any banker at Chase I've even seen.

 

[George Costanza]

Have any of you ever tried to cancel an automatic withdrawal? An automatic withdrawal that YOU created on your own?

 

[Madeline]

You should be able to prevent a withdrawal that is regularly scheduled, if there's anough time. But a debit (what bankers call an ACH), no. You must be extremely careful about where and how you use your checking account-linked debit card.

More changes are coming in a few days, as the new laws effective June 1st take effect. What we all need is an honest and sympathetic banker type who can tutor us on our new rights -- whichever ones we may have left.

If you know of anyone who may be able to help, please nudge them. I cannot do it; Banking Law is terribly complex and the last time I had my arms around it, ATMs had not yet been invented.