Think banks like Chase don’t make errors?
Think again. According to a lawsuit filed by a Seattle business owner, a bank error made by Chase during the holidays resulted in Chase freezing his accounts which ultimately forced him out of business.
Whether or not Chase made an error is not in question. Chase has formally admitted to the error and the Comptroller of the Currency, which regulates Chase, has also determined that Chase made an error. The business owners account was put on hold incorrectly, and it took a week to get it open again, a week that turned out to be the worst possible time for the business.
Ineptitude, Lawsuits | admin July 7, 2010
