Apparently BOA will not accept cash payments on mortgages. This should be good for their PR.
Feb 3 2012 Bank of America Lakeport, Ca. I attempted to make a cash payment on our mortgage, the manager refused to take the cash saying it was against bank policy.
I was shocked, had no idea this would happen, since when does a bank not accept cash... Right! When I protested, the manager called the Lakeport poilce dept. After being detained for about 1/2 hour and nearly arrested for shooting video inside the bank the cops decided to let me go.
The BofA manager made a complaint against me and had the cops inform me that I am "no longer welcome inside the Lakeport branch of Bank of America." Also that if I "ever attempted to enter the branch again I WILL be arrested!"
So apparently Bank of America DOES NOT accept American cash dollars as a form of payment on mortgages in AMERICA!
PROTEST & YOU WILL BE ARRESTED!
25 comments:
Looks like more and more people are getting informed every day of who/what really runs this country.
So what exactly do they now accept as a form of payment?.....Im sure its not Gold since Bernanke said gold isnt money
Absolutely ANON 7:51. Cash is dying. Credits and electronic transfers are on the rise. Question though: Where is VID 2 of 4? I only see three. What is on the missing VID?
I'll bet his hits FOX news if all is valid.
2 OZ.
Hopefully no one has a EMP while everything is electronic...
Just one more reason to have phyzz ANON 8:19.
2 OZ.
So, does this mean that they don't owe the mortage payment since the bank refused to take FRN's as legal tender?
That's what I'm sayin' anon 8:53. "Legal tender for all debts, public and private"? hah!
Great video Doc. Apparently they are not able to rehypothecate the funds as fast if they have to wait for the green stuff to be sent back to the fed reserve for credit, which in the mean time loses rehypothecation purchasing power.
This situation points out so many areas of concern, it would virtually take pages of information to cover it all.
Everything from the "cash in question" to the potential "investigation".
One point that interests me is the cash.
Is there currently active policy that limits amounts of cash transactions that haven't yet been made public?
The "cash" is in question. Why?
Perhaps the Secret Service is looking for the pallet of dollars sent to Iraq or other countries. Captial controls..etc.
ELECTRONIC transfers and transactions sterilizes cash transactions. The Bix Weir 0's and 1's.
I could break it down further, but SD readers understand where it's going.
What would be the reaction if this gentlemen tried to pay in Gold Eagles? Bet you would see the sparks fly then!
It has been said above, but is worth repeating.
a Federal Reserve Note states: "THIS NOTE IS LEGAL TENDER FOR ALL DEBTS, PUBLIC AND PRIVATE".
I would immediately close ALL accounts and transfer the mortgage to a credit union or other bank, ASAP.
Imagine what would happen if he tried to pay in silver.
If I was a suspicious person
If I was paranoid
But I repeat myself
This action on the part of the manager is not an idle one-off occurence. This bank; any bank is being told to suspect ANY cash transaction.
$10,000 is the level for reporting to the Feds. But the back story of this law is what's called 'know your banker'
In its simplest form, the suggestion is that if you deal in cash make sure the manager and tellers who this. If you fail to do this and bring in as little as $1,000 in CASH, the manager, at his discretion, can nark you out.
Why?
Because you do not fit the profile of a business owner or person who regularly uses cash. Therefore the cash transaction is deemed 'suspicious' If the banker fails to report this action he or she could lose their jobs or even be incarcerated.
If you need to deal in cash, pay anything other bank bank transactions with cash and use some form of check for bank transactions. These laws make criminals of us all Just another indication we live in a financial gulag.
This not not something new either. When I was in banking 20 years ago we always eyed cash transactions with suspicion. You have been warned by this video
Oh, and another thing.
F! B of A.
We closed our accounts months ago.
Kill this beast! Strip mine it of it's life blood--your money.
Video can and do have a habit of giving a view askew.
The REAL issue, is the fact that this asshole walked into a bank of america, trying to cash a 13,000 dollar check, when they informed him that they didn't have that kind of cash in the bank at the time, (for whatever reason including corporate policy) he started cussing and becoming belligerent. The bank manager told him to leave for cussing and causing a scene.
When he wanted to make his mortgage payment afterwards, they were already done dealing with him, it wasn't that they refused his payment, they were done dealing with the fuck head.
The only crime I can see is this guy being an asshole and giving the american public a view askew.
Knowing and defending your rights is ok in my book, acting like you have a sense of entitlement and then acting like fucking tool is NOT ok.
I especially love the fact that they ommitted this video when posting the other videos...
http://www.youtube.com/watch?v=RD6PHb1LOCA&feature=related
Watch for yourself and decide, did they refuse his money? or did they just refuse dealing with him any further for being an ASSHOLE.
The 2nd video regarding the cashing his check was not posted as it did not pertain to BOA not accepting a cash mortgage payment. However, it is possible Oso is correct and what he posted as video 2 did proceed the issue with the bank not accepting his cash payment.
OSO - were you dropped on your head at birth?
refusal to accept payment is considered payment has been made in full. IE no more debt.
UCC Uniform Commercial Code.
Actually, I'm with Oso on this one. I'm not sure what happened, and we all can be as justified and entitled as we want in expecting banks to act the way we want them to.
But these are four videos, edited by the videographper, over a period of at least 30 mins, without context.
Cash is definitely suspect and they're definitely moving to rid us of it. Yet, this in no way to me is any kind of proof that they won't accept payment for it. Simply because I don't know what happened here. Is it possible that cash is not accepted? absolutely. but can i conclude that from this? not really.
I've been angry before (though not that obstinately) and in this day and age, representatives in companies just tell you to leave and won't deal with you. And once you've crossed that line, it doesn't matter what law you think is going to back you up, you're still acting like an ass and should not be surprised if cooperation is not the response.
This ass-clown has DICKHEAD oozing out of every pore! He is clearly trying to create an adversarial situation. There is absolutely NO need for him to video tape anything. Law enforcement has every right to request valid ID from anyone involved in an investigation. This guy knew exactly why the cops were there and he had an obligation to present valid ID when asked.
My personal experience with banks and credit unions is that they have special rules for dealing with checks from insurance companies like the $13k check he presented from Farmers. It appears that many criminal types like to forge insurance checks and instead of imposing severe penalties on those who perpetrate such actions, everyday law abiding citizens must take one for the team and jump through hoops.
I have paid my mortgage with cash at Wells Fargo and US Bank in recent years with no problems at all. I deposit checks and withdraw all or part of the funds in cash monthly. No one at any bank or credit union has ever questioned or even looked at me odd and I generally look like the criminal type.
You people need to wake up and quit looking for fire where there in no evidence of smoke. Try a little critical thinking for a change.
Comments here tend to be a bit better than other sites but it is " mob mentality" responses to stories like this that leave no doubt that when TSHTF, our society will quickly and decisively devolve into grand version of The Jerry Springer Show. Me, Me, Me, Mine, Mine, Mine, Gimme, Gimme, Gimme! Idiots.
Actually, whatever you folks want to think about how this person acted while paying his debt, the bank clearly acted in an unprofessional manner and violate the the federal law requiring FRN's to be used for all debt public and private. If they refuse the payment with legal tender, the man (douche or not) has the legal right not to pay that months requirement since they refused to accept the legal tender. If he was trying to pay with pennies or gold/silver or postage stamps, I would understand your arguments. He was paying with reasonable effort and using legal tender. The fact he was video taping or confrontational is not the issue. The bank could have done the RIGHT and LEGAL thing and just accept his payment and sent him on his way. Banks are businesses and they have a responsibility to accept his payment in a timely manner and with legal tender.
It's not possible to tell if he presented the check first or the cash, but he photographed the check at the counter and the cash was sitting on the managers desk. My guess is he presented the check to a teller and he/she said "You'll have to see the manager about that" so he walked down to the end of the counter, put the check down and started taping then. Later the manager would have asked him to sit at a particular desk, they would have done some talking, then perhaps he pulled out the cash.
All in all, it does look like he was making himself seem a bit suspicious.
Then again, money transferred from one bank to another can be traced and can be rehypothicated about 40 times over, two wins for our new fascist bankster rulers.
Check how your state adopted the Uniform Commercial Code into statute. Find the part about discharging a debt when payment is refused, and send a certified letter to the bank telling them that amount you tried to pay is now discharged.
This will only stick if you are willing to go to civil court, as they will likely tell you to go punt. If you go to court, you will win.
From what I've heard about this, apparently there is a bank policy if he is trying to pay some sort of late mortgage payment he cannot pay it with cash at a local branch. We don't know if he was just doing a monthly payment or something to that extent, all we know is some of the facts not all.
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