Tuesday, March 25, 2014

The Bank Revelation Act

If you click to read the letter from Union Bank (outlined in Red, on the right side) first, you will see why I am also presenting the information from ChexSystems.  My reckoning suggests that Union Bank closed my business account because I tried to open an account with First Citizens Bank.  I have sent this text and image to the branch manager at Union Bank as an offering she could use to defend her decision to open my account in the first place.

A friend of mine opened a bank account to hold some money for a down payment on a house.  PNC, his other bank, on the same day closed his account there, saying on the phone to him, "Just like you can choose to do business with any bank and open or close an account with us, we also reserve the right to do business with whoever we want to." My reckoning here also is that this closure was a response to having a competitor.

When I spoke with the branch manager at Union Bank on the phone, she was upset with me because she had "gone to bat" for me with the higher-ups, and then I went and opened an account at another bank.  She asked me why I did this and I explained that I have had banks close accounts on me without much reason.  She was at first a relief from this banking practice, but now her bank is an example of it.

For me, this story was grounds to establish a "Bank Revelation Act" enforceable by any banking customer who wishes to help other bank customers deal with the banking system as it continues to be pinioned, abused, fattened, manipulated, and domesticated by the federal reserve and the legislators helping it.  Banks can provide a good service to the communities in which they operate, but when organized parasitic humans (aka government-backed monopolies like the "Federal Reserve") infect them, they slowy turn into tools of oppression.  Both the manager of my Union Bank branch and I are now victims of this oppression.

The BRA has only one simple requirement, and that is for any interested banking customer, employee, or shareholder to publish whatever details of an unfortunate banking situation they care to publish.  I believe the Bank Secrecy Act has done tremendous damage to the economy of the United States and I'd like to see its more horrible pieces discarded or at least challenged and defeated by private citizens acting in cooperation.

There are already many examples of people following the BRA.  That is how "common law" normally gets created: people recognize value in doing things a particular way and eventually come to expect everyone to do things that way.  When such an established expectation is not met, and someone suffers because of the failure, it is common for a community to agree that the person who failed must compensate the victim.  I believe this is what is known as a "common law tort," notwithstanding the usurpation of the term "common law" by whatever authorities have happened to usurp it.

"Tort law (i.e., the law relating to private civil wrongs) is largely  common law, as opposed to statute-based law, in England, Canada, and the  United States. Several major reforms have been introduced along the same  lines in different countries. Allowing claims by dependents of persons  tortuously killed and removing the immunity of the crown or government or  charitable institutions from tort claims provide examples." -- Encyclopedia  Britannica

The BRA, however, does not support any tort claims, for the language itself indicates that the responsible party publish only what they care to publish.  This frees the growth of this practice from any reason for suppression by the governments who pretend they are the only option for adjudicating tort claims.  They will, nevertheless, do what they can to protect their pet banks from the harsh light of cooperative publishing among their victims.  I think the BSA was a prophylactic.

No comments: