Bank of America Is under investigation by our local law inforcement and as well by the federal Treasury comittee They Fraudently held funds of paid out to our Business account and repeatidly Bounced checks then released the deposit days later. (This is what we did).
We wrote a check to our company (with Bank of America) from our house account"Wachovia"for $500.00 on Monday morning Deposited it Monday morning it posted from Wachovia that day to Bank of America (that means B, O, A has the money)
They would not release the funds and bounced 1 check until Monday the next week and only after confronting them with the documents I had from both banks they could not explain what they did with our money They had it for 7 days they took it the same day it was deposited. Now that they found out we found out and we went nationally with it and they are wanting us to let them investigate it on their own (I said no thanks) They now won't leave us alone now they want now to refund the more than $2300 that we have paid out in fees Their in big trouble now, Withholding availible funds is a federal law not just a banking one, No one at bank of america could show why they held the funds but they could show that they had the funds transferred from Wachovia What account did it go into you ask?
A Holding account with transaction numbers and posting dates!
They are using your money and holding it from you maybe 2 days may 9 days but they are holding it. And they are bouncing checks when the funds should be released. You say why?
Do you know what 5% of $983,576 it is roughly $49.717 per day they are making on our Withholded Availible Funds!
I have an insider that works for B, O, A and he said all banks do it But BOA has the most he has ever seen in one "Slush Account" most keeps $50 or 70,000 in this account but B, O, A is getting rich with this practice, Now it is uncovered!
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