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girl gone mad Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 01:28 PM
Original message
Citi Bank having its own customers arrested for closing their bank accounts?
Edited on Sat Oct-15-11 01:29 PM by girl gone mad
Happening on the OWS live feed.

www.livestream.com/globalrevolution

edit: Citi, not Chase.
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bluestateguy Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 01:29 PM
Response to Original message
1. That is not legal
There must be more to this.
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girl gone mad Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 01:30 PM
Response to Reply #1
2. When it comes to the banks, our laws do not apply.
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varelse Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 01:34 PM
Response to Original message
3. This is a serious mistake
a major tactical error on their part.
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EFerrari Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 01:36 PM
Response to Reply #3
5. Yep. Instant image makeover.
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uppityperson Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 01:54 PM
Response to Reply #3
18. Very much so. For everything they do that is outrageous, more join in. Willd.
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uppityperson Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 01:35 PM
Response to Original message
4. Are they thinking they are protesting inside or what?
wild
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EFerrari Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 01:42 PM
Response to Reply #4
6. They went in to protest and to close their accounts.
Edited on Sat Oct-15-11 01:42 PM by EFerrari
When they were asked to leave, they went to the exit but bank security blocked them inside. When the cops arrived, security went outside to grab two people that had exited. The group was then arrested.

These mofos are totally out of control but the #OWS people got it on film and are broadcasting it live.

:applause:
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uppityperson Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 01:46 PM
Response to Reply #6
10. thanks, watching, listening now. What a situation!
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WinkyDink Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 01:59 PM
Response to Reply #6
23. Bank security are literally out of bounds stopping anyone outside the bank. It's called "kidnapping"
and no, I'm not joking.

There are some serious repercussions for the bank to follow.
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Luminous Animal Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 02:02 PM
Response to Reply #23
26. Yep. It is kidnapping.
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EFerrari Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 02:04 PM
Response to Reply #23
28. Maybe. They never seem to get any consequences. n/t
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ScreamingMeemie Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 01:42 PM
Response to Original message
7. Crowd now chanting "Let them Go"
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Gin Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 01:44 PM
Response to Reply #7
8. interesting to watch it live...and the crowd is growing
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Harmony Blue Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 01:45 PM
Response to Original message
9. Have they lost their minds?
What is wrong with Citi Bank?
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Fire Walk With Me Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 01:48 PM
Response to Reply #9
13. Just removing their masks is all.
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JHB Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 01:57 PM
Response to Reply #9
21. That's a rhetorical question, right?
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caledesi Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 04:16 PM
Response to Reply #9
45. What is RIGHT with Citi Bank ? n/t
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Puregonzo1188 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 01:46 PM
Response to Original message
11. Just got a call from a friend that someone from our school was arrested there.
Is that what they were doing? No way that's legal.
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varelse Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 01:46 PM
Response to Original message
12. I almost wish I had an account with them
so I could close it now.

My ex just pointed out that creating a "run" on any bank is against federal law. I haven't researched it yet but I think that might be the basis for the arrests.

However, in this case I think Citi would have been wise to not take this bait. They've stepped straight into the jaws of a bear trap with this move.
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Harmony Blue Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 01:50 PM
Response to Reply #12
15. It depends actually
and varies depending on the country.

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glowing Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Oct-16-11 09:42 AM
Response to Reply #12
55. How can 23 people be a run on the bank. Only people with accounts
went into the bank to close their accounts. I'm not sure if anyone had any footage inside the bank? It didn't look as if they were. AND then Citi closed the bank, the cops kept them inside, and then arrested everyone... the people inside are the bank's customers.. well, not for too much longer. It will be interesting if the bank "loses" their money or puts some sort of special hold on it or messes up any transactions that the people make.

No matter what, the bank has created a negative PR problem for itself. Its not going to look good on them. And the people inside the bank were not oddly dressed, wearing masks, or especially even all that young. A few looked like middle-aged parent types. But maybe they were trying to get arrested? They had legal aid outside of the bank with them.. The ONLY people who were in the bank were people who actually held bank accounts and wanted to close them.

Hopefully, we get to hear directly from some of the people that were inside and what was happening.
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Odin2005 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 01:49 PM
Response to Original message
14. WTF?
:wow:
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Gin Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 01:53 PM
Response to Reply #14
17. there were 20 in the bank when it was locked...the guy with the
camera said....we will have 100 march here for each one arrested....and it looks like that is happening
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malthaussen Donating Member (413 posts) Send PM | Profile | Ignore Sat Oct-15-11 01:52 PM
Response to Original message
16. Damn, I bet Rod Serling
... wishes he were still alive right about now.

-- Mal
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Odin2005 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 02:01 PM
Response to Reply #16
24. You are entering... The PTB's Twilight Zone!
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pa28 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 01:54 PM
Response to Original message
19. I wonder what Vikram Pandit has to say about this.
Edited on Sat Oct-15-11 01:56 PM by pa28
Maybe they should accept his generous offer and pay him a little visit.
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meow2u3 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 01:56 PM
Response to Original message
20. $#itty Bank thinks it can make up its own laws
Arrested for closing a bank account? Since when did keeping your money where it can, and most likely will, be stolen become the law of the land?

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Luminous Animal Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 01:59 PM
Response to Original message
22. Wow! Well, the Move Your Money project is going to get a lot more traction!
Find a community bank or credit union here:

http://moveyourmoneyproject.org/find-bankcredit-union

Look you your community bank or credit union financial health here:

http://us1.irabankratings.com/MoveYourMoney/IRACommunityZip.asp?affiliate=moveyourmoney&zip=&submit=Search

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EFerrari Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 02:04 PM
Response to Reply #22
27. Divestment - it's Back!
:)
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cyglet Donating Member (256 posts) Send PM | Profile | Ignore Sat Oct-15-11 02:01 PM
Response to Original message
25. Wow. Um.
What will happen November 5th?
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Luminous Animal Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 02:06 PM
Response to Reply #25
29. People don't have to do it all in one day. I've already moved my money.
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cyglet Donating Member (256 posts) Send PM | Profile | Ignore Sat Oct-15-11 02:09 PM
Response to Reply #29
30. The only bank I have accounts with
is USAA. The rest are credit unions.
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Luminous Animal Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 02:14 PM
Response to Reply #30
33. Our community bank was bought out by a somewhat larger bank and then
bought out by WAMU then bought out by Chase. We were lazy about switching but did during the bank bailout.

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SoCalNative Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 02:13 PM
Response to Reply #29
31. But they should
make a point of closing their accounts at the banks all on the same day.

It's no coincidence the date of November 5th was chosen for this.
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sarcasmo Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 04:36 PM
Response to Reply #31
47. Remember, remember the 5th of November.
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tblue37 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 02:13 PM
Response to Original message
32. That's a live video feed, so how does it show that a bank is
Edited on Sat Oct-15-11 02:13 PM by tblue37
arresting customers for closing bank accounts? That seems implausible, so it needs an explanation.

Some of us are deaf, so watching a live video feed with absolutely no explanation of what is going on does not help us understand what is going on.
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uppityperson Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 02:18 PM
Response to Reply #32
36. Protesters were outside. 20 some people went in to close accounts, bank security locked the doors.
Police arrested those inside as they were let out.

I don't watch the noise as it never makes sense, but this is what I've gathered from what I've been reading.

Only way bank can say it is ok in the slightest is if those inside were protesting and refused to leave (which they didn't) or they were scared of a run on the bank, in which case no one should've been arrested.

It is pretty amazing and a really bad move by the bank.
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EFerrari Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 02:19 PM
Response to Reply #32
37. 20 people (apparently some students) went into Citibank to close their accounts.
They were asked to leave. When they tried to leave, security locked them in and called the police.

The police arrived and arrested them.
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uppityperson Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 02:21 PM
Response to Reply #37
38. On the one hand this is making me laugh. WHAT were they THINKING?
have they no clue how this looks? Yes, do outrageous things, more and more and more and more people will become outraged.
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EFerrari Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 02:22 PM
Response to Reply #38
39. They're so afraid of people, their brains shut down?
:shrug:
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formercia Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 05:47 PM
Response to Reply #39
50. Reactionary Mode
Like when someone 'Loses it' and throws a punch. When they look back on it and look at the consequences of their actions, they will show remorse(perhaps), but that doesn't negate the unlawful act.
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CoffeeCat Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 07:16 PM
Response to Reply #37
51. They were arrested for WHAT???
What could these people have possibly been arrested for????

If I go into my bank today--to close my account--I'm not doing anything illegal.

These punks.

Geez, they're going to crash their entire bank--all by themselves. Who in the hell
would keep their account open at Citi--after all of this????

This bank is toast.

I've worked in PR for many years--and I'd have to say that this is the WORST possible
corporate reaction to a crisis. I can't imagine Citi will survive this.

I've heard the "meme" spread through right-wing radio--that OWS is going to destroy
the banks and crash the economy. I'm wondering if this is some lame stunt to fuel
such actions and to cause bank runs and failures. Seriously.

No bank executive is this stupid. Does anyone believe that a group of highly
educated bank vice presidents sat in a board room and collectively decided, "Yeah, when
they come in to close their accounts, we'll lock the doors and hold them against their
will and then have them arrested".

They did this for ulterior motives.

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varelse Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 07:17 PM
Response to Reply #37
52. That is appalling
I can't see how that behaviour is not illegal - and a violation of their civil rights.
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girl gone mad Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 03:25 PM
Response to Reply #32
43. The arrests were still in progress when I initially posted this.
The posters above have given a good summary of what took place.
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tblue37 Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Oct-16-11 12:26 PM
Response to Reply #43
56. Thanks, everyone. nt
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EFerrari Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 02:15 PM
Response to Original message
34. We ARE the media now. Video of arrests:
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Lydia Leftcoast Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 02:17 PM
Response to Original message
35. I am so glad I closed my account with them after the bailout
when they started adding unannounced "miscellaneous fees" to my account which resulted in an overdraft. I was therefore out $85 that I could ill afford, the overdraft from the checks I had written, not knowing that these fees were coming, plus the "penalties" for the overdraft.

In other words, I wrote a check that should have cleared when previous withdrawals and checks and the monthly maintenance fee were figured in, but because of the "miscellaneous fees" (three of them!) I was overdrawn by $50 and had to pay an overdraft fee as well.

I sent them the money, drawn on another bank, along with my Citibank debit card cut into pieces and my remaining checks shredded.

It was a bit of a hassle to inform my overseas clients that they should now send remittances elsewhere, but darned if I was going to give charitable contributions to one of the Big Bad Banks.
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truedelphi Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 03:20 PM
Response to Reply #35
42. Banks use every possible method of distorting reality in order to
Edited on Sat Oct-15-11 03:22 PM by truedelphi
bounce out a check or two.

I haven't had a personal checking account for several years. I thought it would be a major hassle, but the local grocery cashes any local checks, and the PayDay Check people cash any large checks with a 3% surcharge attached.

Three percent sounds like a lot - until you realize that when a bank creates some type of madness (like you describe) to bounce out a check, and your balance is $ 1.96 in the hole, and then they charge $ 99 on account of that small insufficiency, even though that insufficiency is paid up within 96 hours -- that is a whopping 82,000 percent rate of interest.

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grasswire Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 05:36 PM
Response to Reply #35
48. there's always Paypal
Or that new service called ZashPay, a service of Fiserve.
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Luminous Animal Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 02:53 PM
Response to Original message
40. Kick.
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coalition_unwilling Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 03:12 PM
Response to Original message
41. K&R to keep this kicked - n/t
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fishwax Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 04:13 PM
Response to Original message
44. k/r/wtf
:kick: :wtf:
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Fire Walk With Me Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 04:16 PM
Response to Reply #44
46. +1
:rofl:
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texanwitch Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 05:39 PM
Response to Original message
49. I had a CD mature at Capitol One Bank and the money is now at a credit union.
It wasn't that much, something my Father had.

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CoffeeCat Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-15-11 07:26 PM
Response to Original message
53. I will be watching this situation very closely...
...because they can't arrest people for closing their accounts.

If many protesters entered at the same time, it's possible the banks
could arrest them for trespassing. Citi may claim that these people
were going to "occupy the banks", and that is why they were arrested.

It will be interesting to see how all of this shakes out.

I would encourage people to go in and just close their accounts, maybe
not in conjunction with a protest. Just do it, if that's what they
want to do.

Possibly, group account closings aren't going to be feasible.
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slay Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Oct-16-11 06:09 AM
Response to Original message
54. I'd get my money out first thing Monday morning
but i don't keep my money in banks. credit unions are MUCH preferable - especially these days. this is getting pretty fucked up when banks can have you arrested for wanting your own money.
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Raschel Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Oct-16-11 01:08 PM
Response to Original message
57. This is hitting 'em where it hurts. They can ignore the OWS protesters all day long, but they can't
ignore this.
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