Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
'Meanwhile, financial expert Gerald Celente said the news was a sign that Americans should prepare for a bank holiday.
Chase is obviously very keen to make it hard for their customers to have any kind of control over their savings and is trying to prevent them from sending dollars abroad, prompting concerns that Cyprus-style account gouging could occur in America.
Speculation is rife that the bank is preparing for some kind of economic crisis by “locking down” its customers’ money
Others fear the move to restrict international wire transfers is part of a plan to protect against a near-future collapse of the US dollar.
Can anyone explain the rationale behind prohibiting transfers from SAVINGS, not from CHECKING?
I can't. Nor does it really add up to the headline.
This seems to indicate checking as well. EconomicPolicyJournal.com: Chase Bank Limits Cash Withdrawals, Bans International Wire Transfers
quote:
Numerous business customers with Chase BusinessSelect Checking and Chase BusinessClassic accounts have received letters over the past week informing them that cash activity (both deposits and withdrawals) will be limited to a $50,000 total per statement cycle from November 17 onwards.
-You will no longer be able to send international wire transfers.
Chase is laying off workers. After losing a lawsuit, Chase has to pay millions. You'd think Chase would want the business. Did they make a deal with Holder? If other banks follow suit, it's coming from the administration. If not, it's a Chase thing. Either way it's odd.
Chase is laying off workers. After losing a lawsuit, Chase has to pay millions. You'd think Chase would want the business. Did they make a deal with Holder? If other banks follow suit, it's coming from the administration. If not, it's a Chase thing. Either way it's odd.
One must keep in mind major banking changes via Basel III.
This seems related to changes in ACH and "high risk" management.
I wonder how much TARP money Chase received? 25 billion, according to my source. they want to hold on to cash. They think they will need it.
I wonder when the bank run will begin.
They lean more toward the high powered money. They are the govt holding company. From their perspective why should they take risk with small returns when they can gamble big?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
