Citigroup warns customers it may refuse to allow withdrawals
http://www.businessinsider.com/citigroup-warns-customers-it-may-refuse-to-allow-withdrawals-2010-2
The image of banks locking their doors to keep customers from making withdrawals during a bank run is what immediately came to mind when we heard that Citigroup was telling customers it has the right to prevent any withdrawals from checking accounts for seven days.
“Effective April 1, 2010, we reserve the right to require (7) days advance notice before permitting a withdrawal from all checking accounts. While we do not currently exercise this right and have not exercised it in the past, we are required by law to notify you of this change,” Citigroup said on statements received by customers all over the country.
What’s going on? It seems that this is something of an error. The seven day notice policy only applies to customers in Texas, Ira Stoll reports at The Future of Capitalism. It was accidentally included on customer statements nationwide.
“Whatever the explanation, it doesn’t exactly inspire confidence in Citi,” Stoll writes. “But it’s hard to believe a bank would be sending out a notice like that on its statements.”
UPDATE: According to Stoll, Citi issued a statement saying that it has been required to make this change by Federal regulations–and it no longer sounds like it’s limited to Texas.
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ever get a letter like that from a bank?
that is ominous..no doubt about that..this is not normal..
401
“The Morgan group and the National City Bank group held a secret meeting at Jekyll Island, Ga. the week of Nov. 22, 1910 to consolidate their financial power. Present were:
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Sen. Nelson Aldrich (his daughter married John D. Rockefeller Jr.), [and] his private secretary, Shelton
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A. Piatt Andrews, Asst. Sec. of the Treasury
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Frank Vanderlip, president of National City Bank
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Henry P. Davison, J.P. Morgan’s righthand man
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Charles D. Norton, president of First National Bank of New York
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Benjamin Strong of Liberty National Bank (he later married the daughter of the president of Bankers Trust, became president of Bankers Trust, and chairman of the Federal Reserve Bank of New York)
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Paul Warburg, a German immigrant who had joined Kuhn, Loeb & Co .”
here is were this info can from is at resume forum about “they”
THE ROTHSCHILD OCTOPUS (and this one don’t get you at virus
http://waronyou.com/forums/index.php?topic=14528.25
good link isabel