This Tech Dirt story is so unbelievable. Apparently, Citibank, the company that gave me my first credit card in 1982, had a secret policy in which accounts that showed a positive balance -- like if you double paid a bill by accident, or make a check writing arror -- they just took the money and transferred it to the company.
So, for example. Let's say you owed $109 and accidently paid it twice. Well, the fine Citi people would actually steal the second $109 and stick it in their general fund.
Read the CA DOJ judgment here.
Did it happen once or twice? Nope. All the time. For ten years. And the money went to the executive bonus fund!
CA is now seeing to it that the money is given back, plus interest.
And who's doing the jail time? Some guy takes $109 from you, he goes to prison. A bank does it and they get a strongly worded judgment.
Thanks for reading, and don't forget to write.
No comments:
Post a Comment
Because people have been abusing the comment platform to place phony links to deceptive sites, I am now moderating all comments. If your comment is legit and contains a relevant link, it will be published.