Like many Americans, I had my identity stolen. Everytime I went to the Bank I would always be overdrawn. I must admit that I did not look over my monthly statement as I should have. I have a busy schedule, and I trusted the Bank and I figured I must have purchased something with my Bank Card that I did not remember. One day I wnt to deposit $275.00 into my account only to find out that I was overdrawn by $240.00. This time I know I had purchased nothing. I called the Bank. I wanted to see a statement for the past 30 days. They sent the statement. The charges were from an Internet company. Two as a matter of fact. I called the Bank.
Bank of America told me that I had to call the companies and dispute the charges. I did. The companies refunded the memberships that had been charged to my account. Bank of America told me that these charges had been going on for over one year, but the Customer Rep said that she only had information, going back one year. This Fraud may have been going on longer. They refunded $1,689.00 to my account. I was sent Affadavits to sign and return to the Bank. This I did. Two weeks later I received letters from Bank of America telling me that some of the charges were over 60 days, and they were going to take back a total of $736.00 of the money they had given to me. I felt that this was wrong. Living in Rhode Island, I wrote to the Chairman of the United States House of Representative Committee on Finance, Representative BArney Frank. I received a courteous letter from the Congressman who told me that he could not help me since I was not from his State, and his office sent me a copy of Regulation E whci the Bank uses to rip their customers off.
It is no small wonder that the Economy is in the state it is in. These Bank rip off their customers at every turn. The people who are supposed to oversee the Banks don't wnt to hear it, and when the Banks lose money the go to Capitol Hill and the good Congressman and Senators propose bills to help them out. Who helps us???
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