Bank of America is Alive and Well

1. 60

   paradigmsearchposted 12 years ago

   "Bank of America Declared Live Customer Dead for 3 Years?"
   
   "Arthur Livingston, of Prosperity, S.C., may feel prosperous and alive, but his credit report says, "File not scored because subject is deceased."
   
   That's because Livingston's bank, Bank of America, has been reporting him as deceased to the three major credit agencies since May 2009, he said.
   
   Bank of America has still not resolved the issue, even after media attention, causing headaches for Livingston, 39, and his family in South Carolina."
   
   http://news.yahoo.com/bank-america-decl … -news.html

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   1. 71

      ImKarn23posted 12 years agoin reply to this

      UPDATE< UPDATE...Breaking news is that just today there was money found in his bank account - indicating that the government recognized him as being 'alive' (kind of them, me thinks) Rumor has it that it's quite a large amount of money in the bank account - enough to easily be called a settlement! Might I ask why you did this as a threat instead of a hub? Too serious? lol

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2. 62

   Daniel Carterposted 12 years ago

   More aptly named, "Bankrupt America."
   
   Alive and well for the time being, but there are so many lawsuits—individual, class action and corporate—that I'm not sure that BofA will survive the onslaught in the end. If the feds are savvy at all, they should be looking at BofA and other big money machines just as they have Goldman.
   
   It is the premiere model (along with Goldman Sachs) of what is wrong with the business model in America.

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3. 88

   Stacie Lposted 12 years ago

   so if Bank of America and other major banks declare depositors dead,do they get to keep the money?

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   1. 73

      Quilligrapherposted 12 years agoin reply to this

      Hi Stacie.
      
      From the State of New York, Office of the State Controller, Office of Unclaimed Funds:
      “For your protection, banks, insurance companies, utilities, investment companies and many other businesses are required by State law to surrender inactive accounts to the State. These accounts are known as ‘lost,’ ’abandoned,’ or ‘unclaimed’ funds.
      The Office of the State Comptroller serves as custodian of this money. If you can prove you are entitled to the money, we will gladly return it to you, at any time, without charge. Until the money is claimed, it is used by the State's General Funds, serving the citizens and taxpayers of the State of New York.”
      http://www.osc.state.ny.us/ouf/index.htm

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         Lions Den Mediaposted 12 years agoin reply to this

         My only question is, knowing NY as I do, are these funds in a "lock box" custodial account like the Social Security Trust Funds?  I don't even know why I asked, I'm certain the government would never spend the money.

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4. 59

   Xenonlitposted 12 years ago

   Interesting story. I hope that Bank of America loses each and every one of those suits. But I'm not happy that the suing lawyers get the bulk of the money while the plaintiffs get 10% off coupons!

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5. 64

   iamageniusterposted 12 years ago

   They're alive all right, but I don't know about well. They still have a lot of fixing to do.

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