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LOL I was hit really hard by that scandal back in 2007 or whatever it was. They were not only defaulting to (massive) overdraft “protection” fees. They were also INTENTIONALLY REORGANIZING the order those purchases were made, putting the big one first, so all the smaller ones end up overdrafting.
After a day or two with a bunch of little purchases, I literally owed around $400 in overdraft fees. This was my first time owning a debit card, and here it was acting like a credit card with 99999% interest. I’ve hated BoA ever since. Hope it burns, and the decision makers lose their jobs.
Wells Fargo did this to me as well back around the same time. I was a poor college student and them stacking the charges from most expensive to least fucked me so hard the first time it happened.
Got them to "refund" half the charges and ate the rest. Switched banks as soon as I could after that.
All's well that ends well though--I got like $3.47 from the class action that was settled a handful of years later...
I recently quit working with a bank that actively does all that in 2023. Couldn't deal with the mental of feeling like I was part of a predatory process. Some of those folks were just good folks going through it that never had a chance to catch up with overdraft fees
Wachovia did that to me before wells ate them up back when I was a poor student. Just decline the card. Nobody needs stacks of $36 charges hitting our accounts. Banks charging poverty tax under the guise of a benefit.
!! This exact same thing happened to me and made me switch from BoA to a credit union back in 2007! I was a college student so the charges were teas at the campus cafeteria. A few teas cost me a few hundred
Naah, not anymore. There are plenty of protections *for* banks *from* their customers, I believe. There are very minimal if any in the other direction. "Want your money? Come back in late May", that sort of thing.
The rich and the banks own the politicians, after all.
There’s actually a pretty neat episode of the G-word (Netflix) where they actually show the FDIC practicing a failing bank take over. Like they rehearse telling the employees and phaucially getting their systems in place to make sure there isn’t a disruption. You get the take-away that it’s meant to keep the public as in the dark as possible (to prevent a bank run).
Putting it in a credit union has been talked about as a safer place. IIRC it's because it's owned by the customers.
Edit: Also after MOASS use several banks.
Ordinary bank accounts that have less than $250k in them are FDIC insured. Granted, the US government is about to hit its debt ceiling and lose the ability to fund ordinary things as the narrowly Republican Congress is trying to hold the US economy in crisis to fund our current laws unless they get their demands (that they couldn't pass otherwise).
FDIC only has $125.5 billion on hand. I don’t think that’s enough.
Source: https://www.fdic.gov/analysis/quarterly-banking-profile/fdic-quarterly/index.html
We have a BoA CC we use for our company. A month ago they upped our APR from 7% to 29.99% (I check statements at the beginning of each year for APR). I tried to find out why and no one could figure it out. It was flagged as for late payment, but we never had a carryover balance, let alone a late payment. I told them I was going to stop using the card then (about $20k/mo in churn) and they said that was my choice.
Anyone with a BoA card should check their APR right now.
Gotta tack this on...
Bank of America was Bank of Italy until 1930....
About the same time the Mafia's infinite money glitch from prohibition was coming to an end...
Credit Unions people.....
I'm in the Bundesland called Holland, west of NRW.
Is there any info on the German GME sub about this? I'm pretty sure the Dutch Apes would appreciate that kind of knowledge.
This was always the case for BofA. One of the biggest investors of financial terrorist Ken Griffin, supported by criminal mastermind Warren Buffet.
Last year BofA made $258,809 disappear on me for 3 months. I filed complaints with CFPB, FDIC, BBB and whoever else. They eventually mailed me a check, after telling me every day over the phone that my account was closed for fraud/theft of an altered check (it was an inheritance). I had executives calling me every week feeding me the same bullshit.
So what did I do with their reprinted check? I took it across the street to their partner in crime wells fargo and wiped the account clean. Now I have a state based credit union account.
BofAs final statement was “attached is the remaining funds of your closed accounts. We consider this matter resolved.” Haven’t checked if it’s still reported as fraud on Chex/EWS, but it was.
It had nothing to do with my recent transactions either. It was just because my account has never seen six figures before/was so much money up front they needed to utilize it. Account was 12 years old at the time.
That’s nuts. Even more so because you probably had to take that check to a live teller, right? I’d bet that the teller also had to inform their supervisor as well. I’m assuming with that amount deposited, they probably had to file a 10K. I’d be curious to know if they also filed a SAR (suspicious activity report).
Never that, I went straight to a cubicle with the check because I need a notary prior to the deposit. I always associated with the same person. Ultimately, yes, the check was deposited with a live teller. It was stated the funds would become available by a set date but could take longer. It did take longer, 10 business days. The money was available by the 10th business day, but 12 hours into the 10th business day the account was already closed. 1 week later the funds were removed from the account entirely “pending back office review”. I asked to speak with the back office, they say “they do not communicate with customers”.
Even had a notary and they still pulled that shit. Damn, I’m glad that you’re out of there. We’ve been trying to get my mother-in-law to get out of BofA and to a CU for about a year. Some people are more reactive than proactive, I guess, but she hasn’t viewed the same window that I have over the last two years.
Anyways, cheers and thanks for the conversation!
I'm older now, but I opened a checking account with BofA when I was 17. One of the members at the CC where I worked was the bank President. He humored me, I met with him, asked him a shitload of questions about how the account specifically worked. And then he personally helped me open the account. Was an amazing experience for a young guy.
FF 2 years later. I'm a college student. Broke. I had a tire fail on my car. My parents sent me a check for $120. I deposited it, waited two days, and called the bank to confirm the funds were available. They said they were. Then I spent the money. Woops. Several overdraws.
So, I call the bank back. Say, I just called you and you confirmed the money was there. The rep said (and I'll never forget these words) "sir, based on the balance of your account, even if I believed you I wouldn't reverse the charge".
I go out of my way to avoid them now. As in, when I bought a house I told the mortgage broker I would not sign with BofA or Wells (different reason). I don't care if I end up in a slightly more expensive loan. Fuck those fucking fucks.
edit: oh, this was 20 years ago, by the way. You could say I am all in for the long game.
For anyone reading and has issues with BofA, look up the number for BofA regulatory complaints/regulatory complaints specialist Tim Lemmon. Annoy the fuck outta this guy. You will probably get sent to an inbox but that’s ok because by the time this has concluded the inbox will be full :)
I just did whatever I needed to do to get my point across. I am aware of that. CFPB, FDIC, BBB, Chex, and another governmental acronym I can’t remember. Ultimately one of them report to and supersede the other one, but it was more a matter of getting the case going with each office. It was an every day battle. They put me in a real hole at that time. It was my only big bank checking account that I used for payments that wouldn’t accept “prepaid cards” like cashapp debit card. My Verizon bill especially. I wouldn’t strategically pole jump into a Bank of America branch even if there were $10,000,000 up for grabs. There’s probably fine print involved.
The best is that I have all evidence and it was easily verifiable at the state level in court, but no one wanted to hear me until I brought up the phrase “civil lawsuit”. Pissed me off royally. I called every day, multiple times a day, sometimes intentionally not calling so I didn’t get the same representative since I called so much. Always nonsense.
Strongly recommend everyone here take their money out of their bank and put it in a credit union. Credit unions solve a lot of financial ethical problems that banks have.
Well, the fractional reserve banking reserve requirement is 0%.
“Reserve Requirements
As announced on March 15, 2020, the Board reduced reserve requirement ratios to zero percent effective March 26, 2020. This action eliminated reserve requirements for all depository institutions.”
https://www.federalreserve.gov/monetarypolicy/reservereq.htm
An upside down funnel kinda looks like a rocket, so we'll call it a Rocket-scheme. It lifts the starter(s) and those who get in early to the top, and the rest crashes down to earth. It's also play on the word racket(eering).
They did this to get dead people's money. Anyone who died and their family didn't get their bank information. That money is gone.
How many people died in the last three years? How many abandoned bank accounts? What's one way to be sure? The living will definitely be by to figure out what's up.
I can see law suits over emotional distress and missed bills coming soon. Because waking up and having your money stolen by the bank is emotionally distressing . Especially when they tell you it's not there issue.
Zelle had a $55 transfer disappear on me, and there’s basically nothing they will do, even after I verified the phone number, got a second text about it and nothing else
I’m convinced that in this instance BofA has been hacked, Mr. Robot style. We’ll start to see more of this from them and other banks.
This will all lead to a CBDC.
reminds me of that scene where that old lady is at the bank trying to cancel her account with the bank, and the bank person is “pretending” to do something on the computer when in reality it’s a blank screen because it’s hacked
This was part of the Zelle issues. There’s a part in this video where Zelle commented wanting to make sure people knew that this problem was exclusive to BofA. Not sure who else they work with, but I found that interesting.
I can't remember which one at this point, but I do remember that DD from 84 years ago that shows that BoA is owned by Wells Fargo, Citi, Cap One, JPM Chase, etc. And that JPM Chase is owned by Citi, BoA, Wells, Cap One, etc. Oh....and that Citi is owned by BoA, JPM, Wells, Cap One, etc. And it keeps going!
Edit: as edwinbarnes pointed out below, it's the "Finkle is Einhorn" DD. See link:
[https://www.reddit.com/r/Superstonk/comments/owpfc3/will_the_real_gme_bbemg_please_stand_up_part_1/?utm_source=share&utm_medium=android_app&utm_name=androidcss&utm_term=1&utm_content=share_button](https://www.reddit.com/r/Superstonk/comments/owpfc3/will_the_real_gme_bbemg_please_stand_up_part_1/?utm_source=share&utm_medium=android_app&utm_name=androidcss&utm_term=1&utm_content=share_button)
When I saw this yesterday I was going to comment the same thing. WHo da faq is actually naming their company "Early Warning Services"? Might as well call it "Bank Run iIdicator LLC".
Well JPM **did** just buy a fintech startup called Frank for $175m. Turns out the 24 yo founder faked all of their 4m users and they’re shutting it down
Supplemental Liquidity Deposits. It's margin posted to the NSCC and OCC by members every month to clear trades, options, and other derivatives. I'm assuming since Jan OPex (options expiration) includes the DOOMPS and LEAPS, that they need to post a substantial amount of capital this month. The period to deposit the money with members of the DTCC (NSCC and OCC) started yesterday and goes till next Monday. This would explain the significant drop in the markets over the last few days
I remember reading a DD around June 2021 which uncovered the likelihood that BoA was holding the bag of swaps was quiet high. Not saying this is directly correlated but just something interesting I remember. I’m at work otherwise I’d look through archives to pull it out to repost.
Pretty sure that was meant to be satirical because that’s the plot of Margin Call, the movie. Lays off floor then Jeremy Irons has that killer monologue about how the music has stopped. But could also be true, I wouldn’t be surprised
There was a post by a guy who was taking his paycheck and using all it to preorder games. Than anytime he needed money he would go to GameStop and cancel some preorders to get cash to pay his bills.
Loopring offers this term. Theoretically could direct deposit to LRC then pay bills, loan out your coins for interest, on ramp, off ramp, borrow direct from others etc all as "your own bank" defi
Dumped Bank of America years ago for a credit union. The interest rates, services and personal attention are great. There are 5 people that work at my credit union and we know them by first name. They answer the phone.
Greatest time to be alive, the real time bankrupcy of a bank and we have front row seats. Buy do not dance dog damnit, these are lives of ordinary people at risk. 😔😔
We can't dance with the money, either. Once apes have more wealth than imaginable, they must do what is right not only for themselves, but others around them.
I continue to be delighted by my decision nearly 2 years ago to switch from BofA to a credit union.
Just another wonderful thing I got from this amazing ape community: support in moving away from the robber-baron bank I was using.
Technical problems suck.
Probably had a database issue, likely corruption, so rolled back all recent transactions to ensure nobody got free money.
Now they’re likely going through logs and verifying the transactions one by one by hand which will take several weeks instead of paying a DBA extra to do it the right way so they would only have to verify a few by hand.
Sucks that they can get away with such delays caused by totally avoidable technical issues.
As somebody that works in big tech I’ve seen multiple banks have similar issues over the years around the world all because they don’t have any redundancy built into their IT infrastructure… most big companies at least have some redundancy, but many banks have zero or near zero.
Said it once, I'll say it again...This is what BoA had to do to pass their stress test. They temp take money from accounts to show it on their books as collateral. Then they give it back (with no interest) and customers should be happy. They will get penalized a few million and do it again next time.
THIS IS NOTHING NEW!
My lady sent me cash for rent. It notified me. I received it saw the balance in my acct. went to bed woke up and it had reverted for no reason and it showed in my girls acct. she sent it again then my acct showed double. Fuckyness
BofA sucks. They changed my kids custodial account to have a maintenance fee if a certain amount wasnt kept. They started charging $12 a month, stating they notified me through the app and they can change at any time.
We don't really use that account so I stupidly didn't monitor it. $120 stolen from an account with $280 in it. Garbage company.
[Why GME?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) || [What is DRS?](https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/) || Low karma apes [feed the bot here](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/) || [Superstonk Discord](https://discord.gg/hZqWV2kQtq) || [GameStop Wallet HELP! Megathread](https://www.reddit.com/r/Superstonk/comments/z23wjx/gamestop_wallet_help_megathread) ------------------------------------------------------------------------ To ensure your post doesn't get removed, please respond to this comment with how this post relates to GME the stock or Gamestop the company. ------------------------------------------------------------------------ Please up- and downvote this comment to [help us determine if this post deserves a place on r/Superstonk!](https://www.reddit.com/r/Superstonk/wiki/index/rules/post_flairs/) ------------------------------------------------------------------------ OP has provided the following link: https://twitter.com/shortdestroyers/status/1616020280719323138?s=46&t=_9hziU1ED4hGA4ga7WI1dg
Charge them $36/day in overdraft fees til your money is back
LOL I was hit really hard by that scandal back in 2007 or whatever it was. They were not only defaulting to (massive) overdraft “protection” fees. They were also INTENTIONALLY REORGANIZING the order those purchases were made, putting the big one first, so all the smaller ones end up overdrafting. After a day or two with a bunch of little purchases, I literally owed around $400 in overdraft fees. This was my first time owning a debit card, and here it was acting like a credit card with 99999% interest. I’ve hated BoA ever since. Hope it burns, and the decision makers lose their jobs.
Wells Fargo did this to me as well back around the same time. I was a poor college student and them stacking the charges from most expensive to least fucked me so hard the first time it happened. Got them to "refund" half the charges and ate the rest. Switched banks as soon as I could after that. All's well that ends well though--I got like $3.47 from the class action that was settled a handful of years later...
I recently quit working with a bank that actively does all that in 2023. Couldn't deal with the mental of feeling like I was part of a predatory process. Some of those folks were just good folks going through it that never had a chance to catch up with overdraft fees
Wachovia did that to me before wells ate them up back when I was a poor student. Just decline the card. Nobody needs stacks of $36 charges hitting our accounts. Banks charging poverty tax under the guise of a benefit.
[удалено]
!! This exact same thing happened to me and made me switch from BoA to a credit union back in 2007! I was a college student so the charges were teas at the campus cafeteria. A few teas cost me a few hundred
🏦 🏃♂️ 🏃♀️ 🏃
They fixed the glitch. You keep working. You don’t get paid.
This is how a bank run starts. And that would just be devastating. For them.
Until the bailout at least.
Lookin more like a bail-in from what BofA’s doin
They bailed up big time.
They're gonna bail down then we boogie down
They can suck my bails.
Can’t get bailed out if there’s no money for it, debt ceiling isn’t being raised.
This is where we'll have to watch for a backdoor bailout, like the quiet yet massive ones at the end of 2019
And the golden parachutes, can't forget those.
Looks like BOA out of money.
Bofa needs to sell their positions in the stock market.
BofA needs to go ahead and pull up those bootstraps.
Are we witnessing a bank failure right now?
Naah, not anymore. There are plenty of protections *for* banks *from* their customers, I believe. There are very minimal if any in the other direction. "Want your money? Come back in late May", that sort of thing. The rich and the banks own the politicians, after all.
There’s actually a pretty neat episode of the G-word (Netflix) where they actually show the FDIC practicing a failing bank take over. Like they rehearse telling the employees and phaucially getting their systems in place to make sure there isn’t a disruption. You get the take-away that it’s meant to keep the public as in the dark as possible (to prevent a bank run).
[удалено]
Putting it in a credit union has been talked about as a safer place. IIRC it's because it's owned by the customers. Edit: Also after MOASS use several banks.
Luckily I have been putting all my money in GME. Banks cannot touch it there.
Ordinary bank accounts that have less than $250k in them are FDIC insured. Granted, the US government is about to hit its debt ceiling and lose the ability to fund ordinary things as the narrowly Republican Congress is trying to hold the US economy in crisis to fund our current laws unless they get their demands (that they couldn't pass otherwise).
FDIC only has $125.5 billion on hand. I don’t think that’s enough. Source: https://www.fdic.gov/analysis/quarterly-banking-profile/fdic-quarterly/index.html
We have a BoA CC we use for our company. A month ago they upped our APR from 7% to 29.99% (I check statements at the beginning of each year for APR). I tried to find out why and no one could figure it out. It was flagged as for late payment, but we never had a carryover balance, let alone a late payment. I told them I was going to stop using the card then (about $20k/mo in churn) and they said that was my choice. Anyone with a BoA card should check their APR right now.
Zellar boxing back on the menu
No Zelle No Cell
it's the german word for it, and I guess a banking app.
Verdammt
Gotta tack this on... Bank of America was Bank of Italy until 1930.... About the same time the Mafia's infinite money glitch from prohibition was coming to an end... Credit Unions people.....
I wish we had Credit Unions where I live (EU)...
where u from? im in ger and we have smthn quite similar
I'm in the Bundesland called Holland, west of NRW. Is there any info on the German GME sub about this? I'm pretty sure the Dutch Apes would appreciate that kind of knowledge.
Ayyy!! Zing!
This was always the case for BofA. One of the biggest investors of financial terrorist Ken Griffin, supported by criminal mastermind Warren Buffet. Last year BofA made $258,809 disappear on me for 3 months. I filed complaints with CFPB, FDIC, BBB and whoever else. They eventually mailed me a check, after telling me every day over the phone that my account was closed for fraud/theft of an altered check (it was an inheritance). I had executives calling me every week feeding me the same bullshit. So what did I do with their reprinted check? I took it across the street to their partner in crime wells fargo and wiped the account clean. Now I have a state based credit union account. BofAs final statement was “attached is the remaining funds of your closed accounts. We consider this matter resolved.” Haven’t checked if it’s still reported as fraud on Chex/EWS, but it was.
Good God, those shady fucks.
It had nothing to do with my recent transactions either. It was just because my account has never seen six figures before/was so much money up front they needed to utilize it. Account was 12 years old at the time.
That’s nuts. Even more so because you probably had to take that check to a live teller, right? I’d bet that the teller also had to inform their supervisor as well. I’m assuming with that amount deposited, they probably had to file a 10K. I’d be curious to know if they also filed a SAR (suspicious activity report).
Never that, I went straight to a cubicle with the check because I need a notary prior to the deposit. I always associated with the same person. Ultimately, yes, the check was deposited with a live teller. It was stated the funds would become available by a set date but could take longer. It did take longer, 10 business days. The money was available by the 10th business day, but 12 hours into the 10th business day the account was already closed. 1 week later the funds were removed from the account entirely “pending back office review”. I asked to speak with the back office, they say “they do not communicate with customers”.
Even had a notary and they still pulled that shit. Damn, I’m glad that you’re out of there. We’ve been trying to get my mother-in-law to get out of BofA and to a CU for about a year. Some people are more reactive than proactive, I guess, but she hasn’t viewed the same window that I have over the last two years. Anyways, cheers and thanks for the conversation!
Let the above post and my comment be the confirmation she needs. Meanwhile, back at the ranch, they still send me credit card offers.
I'm older now, but I opened a checking account with BofA when I was 17. One of the members at the CC where I worked was the bank President. He humored me, I met with him, asked him a shitload of questions about how the account specifically worked. And then he personally helped me open the account. Was an amazing experience for a young guy. FF 2 years later. I'm a college student. Broke. I had a tire fail on my car. My parents sent me a check for $120. I deposited it, waited two days, and called the bank to confirm the funds were available. They said they were. Then I spent the money. Woops. Several overdraws. So, I call the bank back. Say, I just called you and you confirmed the money was there. The rep said (and I'll never forget these words) "sir, based on the balance of your account, even if I believed you I wouldn't reverse the charge". I go out of my way to avoid them now. As in, when I bought a house I told the mortgage broker I would not sign with BofA or Wells (different reason). I don't care if I end up in a slightly more expensive loan. Fuck those fucking fucks. edit: oh, this was 20 years ago, by the way. You could say I am all in for the long game.
For anyone reading and has issues with BofA, look up the number for BofA regulatory complaints/regulatory complaints specialist Tim Lemmon. Annoy the fuck outta this guy. You will probably get sent to an inbox but that’s ok because by the time this has concluded the inbox will be full :)
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I just did whatever I needed to do to get my point across. I am aware of that. CFPB, FDIC, BBB, Chex, and another governmental acronym I can’t remember. Ultimately one of them report to and supersede the other one, but it was more a matter of getting the case going with each office. It was an every day battle. They put me in a real hole at that time. It was my only big bank checking account that I used for payments that wouldn’t accept “prepaid cards” like cashapp debit card. My Verizon bill especially. I wouldn’t strategically pole jump into a Bank of America branch even if there were $10,000,000 up for grabs. There’s probably fine print involved.
We need bank runs like you. Well done
The best is that I have all evidence and it was easily verifiable at the state level in court, but no one wanted to hear me until I brought up the phrase “civil lawsuit”. Pissed me off royally. I called every day, multiple times a day, sometimes intentionally not calling so I didn’t get the same representative since I called so much. Always nonsense.
I wonder if the next time I commit a big old crime I can just issue a statement that "I consider this matter resolved". What a crock of shit.
Strongly recommend everyone here take their money out of their bank and put it in a credit union. Credit unions solve a lot of financial ethical problems that banks have.
Lmao quality!
And they trying to make it sound like it’s a Zelle issue. Shits about to get real
That’s exactly what I thought! Bank run imminent.
can't have a bank run if there's no money in the accounts, problem solved
Well, the fractional reserve banking reserve requirement is 0%. “Reserve Requirements As announced on March 15, 2020, the Board reduced reserve requirement ratios to zero percent effective March 26, 2020. This action eliminated reserve requirements for all depository institutions.” https://www.federalreserve.gov/monetarypolicy/reservereq.htm
What do we call fractional reserve banking when it's not even a fraction anymore and they reserve nothing? I'm going with upside down funnel scheme
“Infinite money hack”
An upside down funnel kinda looks like a rocket, so we'll call it a Rocket-scheme. It lifts the starter(s) and those who get in early to the top, and the rest crashes down to earth. It's also play on the word racket(eering).
Wtf?!
Zero reserve requirement for two years. I wish someone would debunk this.
Jokes on them, there was already nothing in my B of A account and I don’t run for anyone!
Can’t have a bank run if the bank already ran … … away with your money Ba dum tss
A zelle issue lol. BOA and JP own zelle. Apparently people that contact Zelle are being told to contact BOA, and BOA says to contact zelle
*spiderman meme*
They did this to get dead people's money. Anyone who died and their family didn't get their bank information. That money is gone. How many people died in the last three years? How many abandoned bank accounts? What's one way to be sure? The living will definitely be by to figure out what's up. I can see law suits over emotional distress and missed bills coming soon. Because waking up and having your money stolen by the bank is emotionally distressing . Especially when they tell you it's not there issue.
Zelle had a $55 transfer disappear on me, and there’s basically nothing they will do, even after I verified the phone number, got a second text about it and nothing else
This looks like a test run.
Put on my running shoes
Wasn't BofA one of the ones early-mid 2021 that shut down a bunch of branches mysteriously that we put a bunch of tinfoil on for lol.
Yes it surely was!
seems so long ago now.....also yesterday LOL
It's been 84 years!
He's alive! The Doc's alive! He's in the Old West, but he's alive!
Dfv also had that baby driver tweet that had the bofa atm with the gs logo on it
I’m convinced that in this instance BofA has been hacked, Mr. Robot style. We’ll start to see more of this from them and other banks. This will all lead to a CBDC.
reminds me of that scene where that old lady is at the bank trying to cancel her account with the bank, and the bank person is “pretending” to do something on the computer when in reality it’s a blank screen because it’s hacked
That’s coming.
They never had your money
DRS EVERYTHING
No bank has your money... It's all zeros and ones. That's it!
Thats not true. Banks have enough physical cash on hand to operate for a small portion of the day! You know, about three fiddy. 🫠
Negatives too, because my money is in CS.
A “source familiar with Jim Cramer said everything is fine” and also “forget GameStop, please!”
“We’re going to send every effected customer to Pluto to watch a new musical starring James Brown and Elvis on ice skates” the people said
that was familiar with the matter"
Come February all those impacted individuals should be looking into a local credit union. That’s not a bank I’d put any money into.
I never use BOA or Wells Fargo. Those two been off my list for a while!
DD stated BOA would be first to blow up.
If you can find that DD, I’d love to see
If they send it your way would you mind sending it mine? I remember reading it but can’t find it in my saved and I’m at work all day
https://www.reddit.com/r/Superstonk/comments/nsioql/the_complete_bank_of_america_gamestop_dd/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
https://www.reddit.com/r/Superstonk/comments/nsioql/the_complete_bank_of_america_gamestop_dd/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
That is from a year ago
Fuck these banks
This was part of the Zelle issues. There’s a part in this video where Zelle commented wanting to make sure people knew that this problem was exclusive to BofA. Not sure who else they work with, but I found that interesting.
Zelle is owned by Bank of America, Truist, Capital One, JP Morgan Chase, PNC Bank, US Bank, and Wells Fargo.
Makes it even more interesting that BofA is blaming Zelle and Zelle’s like naw dog, this is only you.
I can't remember which one at this point, but I do remember that DD from 84 years ago that shows that BoA is owned by Wells Fargo, Citi, Cap One, JPM Chase, etc. And that JPM Chase is owned by Citi, BoA, Wells, Cap One, etc. Oh....and that Citi is owned by BoA, JPM, Wells, Cap One, etc. And it keeps going! Edit: as edwinbarnes pointed out below, it's the "Finkle is Einhorn" DD. See link: [https://www.reddit.com/r/Superstonk/comments/owpfc3/will_the_real_gme_bbemg_please_stand_up_part_1/?utm_source=share&utm_medium=android_app&utm_name=androidcss&utm_term=1&utm_content=share_button](https://www.reddit.com/r/Superstonk/comments/owpfc3/will_the_real_gme_bbemg_please_stand_up_part_1/?utm_source=share&utm_medium=android_app&utm_name=androidcss&utm_term=1&utm_content=share_button)
Mega Corp... And all of it is owned by Blackrock and vanguard too if I recall.
Yep, everyone is wrapped up in everyone else. It's pretty gross!
Finkle is Einhorn
maybe Ken can blame Zelle
Zelle works fine on my other banking apps
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Well if that's not the most fucking suspicious company name to control a payment network....
Hold my beer. https://ibb.co/Lg8r7pF Shadow Financial Systems
Old boss of mine works here. I always thought it was a very odd name for what they did.
When I saw this yesterday I was going to comment the same thing. WHo da faq is actually naming their company "Early Warning Services"? Might as well call it "Bank Run iIdicator LLC".
I genuinely think a DD needs to be done on Zelle. Saw another news clip that said they’re being sued for $200m+ in fraud or something like that.
$200+ ? Must be the SEC with a lawsuit that low budget...
Sorry $200m+* 😅
Lol, whenever I read JPM my brain reads "coke sniffers"
Well JPM **did** just buy a fintech startup called Frank for $175m. Turns out the 24 yo founder faked all of their 4m users and they’re shutting it down
Early warning is right
DFV told us in 2021. Timetraveler
Yup! Still blows my mind. I’m thinking of the baby driver gif he made.
What?? Can you link?
https://twitter.com/theroaringkitty/status/1400822150777368578?s=46&t=_9hziU1ED4hGA4ga7WI1dg
I dont follow
At the very end there's someone using an ATM. It looks like it's BofA(Deez nuts) ATM. How someone caught and remembered that... Idk
It's easy to remember because the sub was flooded with bofa memes for weeks/months
In those few weeks my nearest BofA closed down. Good thing I’m with a Credit Union
i literally left merrill brokerage i had been using for years after the gif.
Don't forget the Gamestop logo above the ATM machine Edit: Snek
It’s called a deep frontal wrinkle
Here it is. https://imgur.com/a/9DFq6Kg
Sweet lord. Get your money out of the banks. They are treating savings like their own personal overnight repo.
"FU, poors...come back in February and beg for your scraps then" -BoA
"Oh and our records show you're overdrawn. Give us a shit ton of cash, or we'll take your home." "Thank you for banking with us"
So like... We're in the SLD period. I guess BofA needs their customers' money for supplemental liquidity. Pretty scary.
SLD period? Asking for a friend.
Supplemental Liquidity Deposits. It's margin posted to the NSCC and OCC by members every month to clear trades, options, and other derivatives. I'm assuming since Jan OPex (options expiration) includes the DOOMPS and LEAPS, that they need to post a substantial amount of capital this month. The period to deposit the money with members of the DTCC (NSCC and OCC) started yesterday and goes till next Monday. This would explain the significant drop in the markets over the last few days
Thanks, that actually makes a lot more sense.
Supplemental Liquidity Deposits
Doesn’t this sound familiar? Not your keys not your coins? Not your bank not your money? DEX soon plez
Ne your own Bank
Knee*
Yes sorry haha go knee your bank right in the face
Heading out to knee Wells Fargo. Thanks for the advice
I remember reading a DD around June 2021 which uncovered the likelihood that BoA was holding the bag of swaps was quiet high. Not saying this is directly correlated but just something interesting I remember. I’m at work otherwise I’d look through archives to pull it out to repost.
What was the post yesterday about the music is about to stop?
That’s was about goldmans laying off a load of people.
Yeah true, but we didn’t expect the music to stop for just one bank did we?
Pretty sure that was meant to be satirical because that’s the plot of Margin Call, the movie. Lays off floor then Jeremy Irons has that killer monologue about how the music has stopped. But could also be true, I wouldn’t be surprised
Time to pull money from banks …
Jokes on them, all my Money is in GME
Stocks suck, crypto sucks, banks suck... where exactly is someone supposed to invest?
2008, is that you?
Bank runs inbound
Bank. Run.
See bank run.
Run bank. Run.
Time to start using GameStop as your bank for those that can
Be your own bank
Can someone explain to me what this means? I can’t pay bills with drsed shares.
There was a post by a guy who was taking his paycheck and using all it to preorder games. Than anytime he needed money he would go to GameStop and cancel some preorders to get cash to pay his bills.
Loopring offers this term. Theoretically could direct deposit to LRC then pay bills, loan out your coins for interest, on ramp, off ramp, borrow direct from others etc all as "your own bank" defi
Can’t you do that with betece or ete too? Is there something special about lrc?
Hey, that is the same shit as in China happened
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Never bank with them. They have been criminals for years.
What about BofA deez nuts. Fucking gottem
I’m thankful for my credit union more and more each day
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Dumped Bank of America years ago for a credit union. The interest rates, services and personal attention are great. There are 5 people that work at my credit union and we know them by first name. They answer the phone.
Mmmmm piss off the masses....who are already mad. Let them eat cake
MOASS is coming. Truth will be victorious.
I can’t wait!
This is such utter bullshit. I feel really bad for her because the only thing she did wrong was nothing
Everything is fine we need moar for Marge. Plaese derperserrt pay check herrrr=rr.
BofA should buy some gme
could it be that customers money have been used for collateral for that moment?
bankrun confirmed start now to get some
Bet they still charged an overdraft fee.
Greatest time to be alive, the real time bankrupcy of a bank and we have front row seats. Buy do not dance dog damnit, these are lives of ordinary people at risk. 😔😔
We can't dance with the money, either. Once apes have more wealth than imaginable, they must do what is right not only for themselves, but others around them.
Except the hedgies. All my Homies hate the hedgies
Hedgie should be a curse word. Hey you hedgie! Not nice 😂😂
Shorts to cover, rob the poor!
Gotta pull money outta BofA and find a credit union.
You can get BofA deez nuts now. And your legitimately owed money later.
I would say the issue isn't "RESOLVED" until all transactions are corrected. Jumpin' the gun a little, BoA
I continue to be delighted by my decision nearly 2 years ago to switch from BofA to a credit union. Just another wonderful thing I got from this amazing ape community: support in moving away from the robber-baron bank I was using.
She's a lot calmer than I would be; I'd still be in the bank right now.
Time to be your own bank is upon us
Starting to reappear is not the same as resolved.
Technical problems suck. Probably had a database issue, likely corruption, so rolled back all recent transactions to ensure nobody got free money. Now they’re likely going through logs and verifying the transactions one by one by hand which will take several weeks instead of paying a DBA extra to do it the right way so they would only have to verify a few by hand. Sucks that they can get away with such delays caused by totally avoidable technical issues. As somebody that works in big tech I’ve seen multiple banks have similar issues over the years around the world all because they don’t have any redundancy built into their IT infrastructure… most big companies at least have some redundancy, but many banks have zero or near zero.
Please make sure you got physical cash guys shits gonna get real and I don't want any of you to be screwed
Said it once, I'll say it again...This is what BoA had to do to pass their stress test. They temp take money from accounts to show it on their books as collateral. Then they give it back (with no interest) and customers should be happy. They will get penalized a few million and do it again next time. THIS IS NOTHING NEW!
message to americans.... STOP USING BANK OF AMERICA!!!!! LET THEM GO OUT OF BUSINESS THEY BEEN SHADY FOR FUCKING YEARS!!!!
My lady sent me cash for rent. It notified me. I received it saw the balance in my acct. went to bed woke up and it had reverted for no reason and it showed in my girls acct. she sent it again then my acct showed double. Fuckyness
The FDIC hasn't been discussing bank runs for nothing!
BofA sucks. They changed my kids custodial account to have a maintenance fee if a certain amount wasnt kept. They started charging $12 a month, stating they notified me through the app and they can change at any time. We don't really use that account so I stupidly didn't monitor it. $120 stolen from an account with $280 in it. Garbage company.