[ale] OT - bank fun

[Sean Kilpatrick]

On Monday 14 May 2007 11:58, Jeff Lightner wrote:
| All that leads to another rant - why the hell you have to sign up to
| allow funds to be withdrawn when you allow for them to be deposited via
| direct deposit.


This one I know the answer to.

Back in 1968 or 1969 a retail clerk had her checking account at Riggs
National Bank in Washington, D.C.  Her employer was direct depositing her
paycheck. When she left for a better job, her employer deposited her final
paycheck, which included unpaid vacation time.  Two weeks later said
employer decided the clerk had been overpaid and asked Riggs for some of
the money back.  Riggs complied.  Checks bounced.  Young, female clerk
was incensed; she hired a lawyer and sued Riggs for multiple violations of
Federal banking laws.  Riggs ended up paying the clerk back the money it
had stolen from her checking account, waiving all the fees and penalties,
writing letters to all her creditors to clear her reputation, covering all
her legal fees, AND paying a hefty fine to boot.

Now we are asked by SOME employers to permit them to "withdraw" funds from
your checking account.  I do not believe you have to go along with it.
Next time just scratch out the offending verbiage. They are asking for
permission to do something they have no legal, moral or ethical right to
do.

I know about this because I was working in D.C. at the time and had a
checking account with Riggs National Bank, into which my paycheck was
directly deposited. Needless to say, I followed the story with some
interest.

Sean Kilpatrick

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