@mustangy wrote:
When you do not run business in consumer friendly way some will do and you will down thats will happend to most us banks in the future
All steps by banks are illegal unfair how ever they do what ever they want
Insane I moved all my accounts biz and personel to single branch small bank whic is from my country
Capital one business start me up with no fee now they charge me like 350$ of insane fees for insane reasons
This is not banking to help build business and healty financial system its clearly ripp of
Because of bank of america cut my 7k many comments says bank have save itself
Here we go not paying the other 9k and now goin for bankcrupty
How about this is this bank still trying to protect itself or a wrond decission in the past give credit then stuck consumer in the midway of his business
Look at it this way.
You can choose which bank to deposit your savings in, just like how banks can choose who they want to lend their money to.
When you withdraw all your money from Bank A and move it to Bank B, can Bank A sue you for damages because what you are doing certainly isn't good for their business since they now have less capital, which in turn affects their profits? 1 person withdrawing money isn't going to make a noticeable difference, but a bank run can cripple a bank. Can the bank then sue their customers?
Banks have to make money one way or another. It may be account maintenance fees, interest fees, transaction fees, or underwriting fees. They have bills to pay for as well. They can't provide no fee banking to everyone for no reason.
Bank of America cut your credit lines because you have been flagged as an extremely risky customer. You dragged your balances at very high utilization for many months. Technically, if they could, they would have already closed your accounts then, but they didn't. Only reason why they didn't is because customers who had their accounts closed or adverse action taken against them tend to be pissed off, and its likely that they refuse to pay their bills as a result.
If you are going to file for bankruptcy, you have no one but yourself (or your luck) to blame really. You can somehow afford to drive a 110k car and yet have zero savings? Sell that car and buy a cheap car in the meantime? You certainly shouldn't be driving a 110k car if you are on the verge of bankruptcy.
How about this example. A friend lent you money 10 years ago when you couldn't afford to pay your bills then. Is he obligated to lend you money forever? If your friend isn't, what makes you think a bank is?
@mustangy wrote:
A sample :
Let say I m big contractor get milyon dollars from the bank and start a giantic cosntruction and I have my own land
A bank easly can give you loan and as sson as you start to build they can recall their credit
So what happend is after foreclosure I have zero in hand my land and business is gone
Is this look like a banking or robrery without gun
No, they cannot recall their credit unless you failed to meet one of the loan conditions or that the bank itself is insolvent for some reason.
You will be able to sue them.
And lastly, prior to starting a construction project, you will need to secure all funding before you even start work (though money will come in phases after certain contigencies are met), so in most cases this is a non-issue, unless one of the financiers go out of business midway.
JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
