Might Break the Law

Reader comment on: Citi Warns of Withdrawal Gate

Submitted by Ken Houghton (United States), Feb 19, 2010 19:50

The reason that banks are always open the day after Thanksgiving is that it is Federal law that banks may not be closed four calendar days in a row.

Making it so that a customer or customers with a Demand account(s) cannot access their money for seven days is, not to put too fine a point on it, illegal.

Pandit & Co. clearly believe that Citi may break the law in Texas. If only there were a Regulatory Agency that paid attention to banks...

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Other reader comments on this item

Title	By	Date
Monopoly Money [189 words]	D Ross	Apr 5, 2010 07:57
it rememeber... [17 words]	franco	Feb 24, 2010 14:49
Aren't reserve requirements enough? [43 words]	Michael Trachtenberg	Feb 24, 2010 09:42
Citibank's 7-day notice [121 words]	OurBroker	Feb 24, 2010 06:23
Solutions [35 words]	JimmyK	Feb 22, 2010 12:23
Thieves [55 words]	Ally	Feb 22, 2010 09:30
You have to be kidding [35 words]	used	Feb 21, 2010 20:37
Recalculating [84 words]	Mark Herpel	Feb 21, 2010 03:00
"It's 'Hard To Believe' a 'Bank' [38 words]	Hard Believer	Feb 20, 2010 19:01
⇒ Might Break the Law [84 words]	Ken Houghton	Feb 19, 2010 19:50
Screw these guys [105 words]	Ron	Feb 19, 2010 16:28

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