In Clark Howard's newsletter he tells a tale of customer abuse by Bank of America. It seems, Matthew Shinnick went to Bank of America to verify the validity of a check he received from someone who bought two bikes from him. The bank said that the check was valid and Mr. Shinnick cashed the check.
The bank then called the police and Mr. Shinnick was arrested. It turns out that the check was fraudulent. The unwitting customer had no idea that his buyer presented him with a bad check. After all, the very reason he went to the bank in the first place was to check it's validity. Our shocked Mr. Shinnick got a night in jail and $14,000 in legal fees for his efforts.
Feeling the event was caused by the banks error, Matthew pleaded with the bank to cover his legal fees. The bank has refused to pay. Clark Howard even offered to pay one half of the fees if the bank would pay the other half. Bank of America still refused.
Clark Howard is now proposing Bank of America customers close their accounts, since the bank clearly does not care about its customers.
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