[WSBAPT] Bank Behaving Badly - B of A

Mon Apr 27 11:04:36 PDT 2015

Ha!
On Apr 27, 2015 10:51 AM, "Martin Silver" <msilver at wolfenet.com> wrote:

>   People, People, People.  I have following this and no one has mentioned
> the most important thing about BOA.  This huge huge bank has the crappiest
> lollipops and my dog takes the biscuits they give him and drops them on the
> floor and spits on them.  If they cannot get treats right for a dog, how
> the hell are they going to get anything right for business?
>
>  *From:* Barb Headley <barb at oppnw.net>
> *Sent:* Monday, April 27, 2015 10:01 AM
> *To:* 'WSBA Probate & Trust Listserv' <wsbapt at lists.wsbarppt.com>
> *Subject:* Re: [WSBAPT] Bank Behaving Badly - B of A
>
>
> This is what I meant to send…altho the prior one is illustrative too.
>
>
>
> Barbara Headley
>
> Tel: 253 640 1980
>
> Fax: 253 295 5002
>
>
>
> *From:* wsbapt-bounces at lists.wsbarppt.com [mailto:
> wsbapt-bounces at lists.wsbarppt.com] *On Behalf Of *Doug Schafer
> *Sent:* Monday, April 27, 2015 9:46 AM
> *To:* WSBA Probate & Trust Listserv
> *Subject:* Re: [WSBAPT] Bank Behaving Badly - B of A
>
>
>
> Because BoA (a national bank) is not chartered by Washington State, but is
> chartered by the Federal Government, its regulatory agency is the U.S.
> Comptroller of the Currency. Its consumer complaints website is:
>
> http://www.occ.gov/topics/dispute-resolution/consumer-complaints/index-consumer-complaints.html
>
> Washington's Department of Financial Institutions only regulates
> state-chartered banks and credit unions.
>
> A national bank's corporate name (not its assumed trade name, like
> SeaFirst) must include either "national bank" or "N.A."
>
> Doug Schafer, in Tacoma.
>
> On 4/27/2015 8:22 AM, Anne Marie Liebhaber wrote:
>
> File a complaint (BoA infamous for number of consumer complaints) or
> contact DFI for guidance with particular situation with an institution. All
> of us should hold these banks accountable.
>
>
>
> http://www.dfi.wa.gov/consumers/file-complaint
>
>
>
> ANNE MARIE LIEBHABER
>
> Attorney at Law
>
> Olympia WA
>
>
>  ------------------------------
>
> *From:* wsbapt-bounces at lists.wsbarppt.com [
> mailto:wsbapt-bounces at lists.wsbarppt.com
> <wsbapt-bounces at lists.wsbarppt.com>] *On Behalf Of *Patrick J. Galloway
> *Sent:* Monday, April 27, 2015 5:08 AM
> *To:* 'WSBA Probate & Trust Listserv'
> *Subject:* Re: [WSBAPT] Bank Behaving Badly - B of A
>
> Large institutions are often difficult. The local branch has nobody with
> the authority or knowledge to handle these issues. BOA has caused my
> clients much grief. I try and prepare my clients for this upfront by
> explaining the trouble they will encounter.
>
> I don't think it is a jaded conspiracy theory to recognize that many
> financial institutions intentionally delay transfer of funds. I would be
> surprised to find that the review by 'legal' actually involves an
> independent confirmation process which arguably should occur before release
> of substantial funds.
>
> Not sure what to do about this besides advising my clients not to open
> estate, business, or investment accounts at these institutions.
>
> --- Original Message ---
>
> From: "James B. Dolan" mailto:jbdolan at jbdolan.com <jbdolan at jbdolan.com>
> Sent: April 26, 2015 2:48 PM
> To: "'WSBA Probate & Trust Listserv'" mailto:wsbapt at lists.wsbarppt.com
> <wsbapt at lists.wsbarppt.com>
> Subject: [WSBAPT] Bank Behaving Badly - B of A
>
> Colleagues:
>
>
>
> I recently encountered the following situation in two probate matters.
>
>
>
> 1.      Client is appointed as Administrator of Deceased’s estate.
> Deceased had accounts at two banks (Wells Fargo and Bank of America) and a
> credit union (BECU).  On March 31, Administrator went to  all three
> institutions with a Certificate of Death, certified Order Appointing, and
> certified Letters of Administration.   She attempted to close out the three
> modest accounts and marshal the funds in order to place them in an estate
> account.  Wells Fargo and BECU gave her the money and closed the accounts.
> Bank of America stated they need a “Letter of Instructions” and then need
> to “send everything to legal” for review before giving her the funds in
> Decedent’s account.  Many telephone calls and visits to the bank later, as
> of last Friday, May 24, she still does not have the money and the account
> is still open.
>
>
>
> 2.      Client is appointed as PR of his deceased brother’s estate.
> Brother’s Will intends for all of his assets to be placed into trust for
> benefit of his minor daughter, of which PR is also trustee.  Decedent had
> four accounts at financial institutions – two of them are POD to the trust
> and two of them (Bank of America and Carpenter’s Trust – pension) are POD
> directly to minor child.  For a number of reasons, we petitioned court to
> direct the two institutions with accounts POD (Bank of America and
> Carpenter’s Trust – pension) directly to minor to instead deliver the funds
> to trustee of the minor trust.  We followed all relevant RCWs, including
> summons per TEDRA and also specific notice to Bank of America and
> Carpenter’s Trust per 11.11.050.  Based on dealing with Bank of America in
> scenario number 1 above, I saw this coming so in my order, the Court
> specifically directed Bank of America to “immediately and without delay,
> deliver all assets in [Decedent’s name and account numbers] to PR /
> Trustee.  Failure to promptly comply with this order shall be considered
> contempt of court.”  PR went to Bank of America, for the second time, with
> certified Order Appointing, Letters Testamentary, Certificate of Death, and
> certified copy of the order we had just entered, and was told by bank
> manager that “we need to send this to legal, we will get back to you.”
>
>
>
> It appears that B of A has a new policy, that no other banks or credit
> unions have to my knowledge, that being appointed PR and appearing at the
> bank with all of the necessary documents is not, in their view, sufficient,
> so they need to “send it to legal.”  My jaded view is that the bank, by
> delaying the withdrawal of money from the accounts previously owned by
> Decedents, gets to continue to use the money to collect interest – although
> each account in and of itself is probably not worth very much, when you
> think of the thousands of accounts from thousands of Decedents that are
> being treated this way, those pennies add up (*see* the movie Office
> Space).
>
>
>
> At any rate, the client in scenario number 1 above has waited three weeks,
> the bank manager in scenario number 2 above is simply blowing off a court
> order (no doubt because she is simply following the bank directive).
>
>
>
> Before I gulp down a large Starbucks and begin drafting Motion and Order
> to  Show Cause for Contempt (does that even make sense?) and get an Order
> Shortening Time and have both managers personally served, I thought I might
> check in with my more experienced, and perhaps more rational, and certainly
> more mature, colleagues.  Is this finally a chance to strike back at the
> empire or am I tilting at windmills?  Any other ideas?
>
>
>
> Jim Dolan
>
>
>
> ===================
>
>
>
> *Jones Butler Dolan, PS*
>
> *www.jbdolan.com <http://www.jbdolan.com>*
>
> *www.jonesbutlerdolan.com <http://www.jonesbutlerdolan.com>*
>
>
>
> *Mount Vernon*
>
>
>
> P.O. Box 2784
>
> 720 South Main Street
>
> Suite 233
>
> Mount Vernon, WA 98273
>
> Telephone: 360-336-2939
>
> Facsimile: 360-336-2949
>
>
>
> *Stanwood*
>
>
>
> P.O. Box 458
>
> 10027 - 269th Place NW (SR 532)
>
> Stanwood, WA 98292
>
> Telephone: 360-629-3833
>
> Facsimile: 360-629-6253
>
>
>
>
>
>
>
>
>
>
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