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Old 10-01-2006, 11:44 AM   #1
Larry_OHF
Ironworks Moderator
 

Join Date: March 1, 2001
Location: Midlands, South Carolina
Age: 49
Posts: 14,759
Maybe you've heard, maybe not...a man who sold some stuff on eBay received a check for the merchandise but he questioned its validity. He took it to his Bank (Bank of America) and asked the cashier if it was a valid check. She told him that it was indeed valid, and he thanked her and asked if she'd cash it. At that moment, she called security and had him arrested for fraud, for the check was actually fake. He was taken to jail, but released the next day when BoA realized that they had made an error and so dropped the charges. However, the arrest was on file, and he knew that it would stay with him forever unless he paid a lawyer to wipe it clean. He did so, which costed him $14,000. He then went to BoA and asked them to pay his court costs, since it had been their mistake that caused this whole thing. They refused, stating a Supreme Court ruling that protected them from being financially responsible for their mistakes.

Clark Howard, a financial advisor on Talk Radio heard about this case and decided to do something about it, stating that so what if the bank was legally not responsible...their mistakes hurt people...and not just any people...this was one of their own customers. Where are the ethics that protect innocent people from being hurt by false accusations?

Clark Howard approached BoA and told them that they would hurt more when the news got out about this than they would if they just took care of this. They refused to listen or change their opinion. Therefore, Clark Howard called for a nation-wide ban on Bank of America, asking everyone that could, to pull their money from BoA...showing them that indeed it was true that they risked losing more money by not doing the right thing.

At this time that I am writing this, it has been reported that BoA has lost $20 million, due to people and businesses pulling their money out of BoA. Why do they pull it? Because this same thing could easily happen to any one of us. Bank of America is one of those business giants that think that their bottom line is more important than the life of an innocent person, and they care nothing for their own customers that trust BoA with their money. That is why people are showing BoA that we DO care, and that we cannot accept their unethical practices...and hopefully other businesses will hear of this and act with more respect to their customers in the future.

For more information, or to verify my post, visit: http://clarkhoward.com


[ 10-01-2006, 11:54 AM: Message edited by: Larry_OHF ]
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