Citizens Bank now charges $7 to cash a check drawn on Citizens Bank. As a general proposition, it is an outrage. Further, I do wonder whether it constitutes fraud, as traditional commercial law requires a bank to honor a check amount drawn on that institution, without any deduction for presentment.indeed, the check represents a statement that the full face amount shall be honored by the bank, and the imposition of the charge constitutes an abandonment of the traditional covenant as well as the bank's integrity.
0 comments