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Citigroup Mistake Shows Gov’t Allows Them to Refuse Withdrawals
March 1, 2010 by Patrick Burwell
Filed under Article
Has Citigroup Lost Their Minds?
“[W]e reserve the right to require (7) days advance notice before permitting a withdrawal from all checking accounts”
-http://bit.ly/cSwUT7, BusinessInsider.com
In the ill-fated announcement by the global banking group they acknowledged they are authorized by OUR government to REFUSE any but advanced notices by their customers for checking accounts.
“Effective April 1, 2010, we reserve the right to require (7) days advance notice before permitting a withdrawal from all checking accounts.” -my emphasis
Wanna bet you will not be able to figure out what address to send such an “advance notice” to?
Apparently this policy is established nationwide as CitiGroup sent out a “correction” that explains that, “Federal Reserve Reg D requires these accounts, called NOW accounts, to reserve the right to require a 7-day notice of withdrawal.”
What kills me is this comment, “we are required by law to notify you of this change“.
WELL, GEE, I GUESS IF YOU WEREN’T REQUIRED TO YOU’D BE SURE AND KEEP IT QUIET, HUH?
WOW. Everyone had better check with their banks… today! I sure didn’t know this was “allowed”.
I wonder if banks will experience a sudden up-surge in withdrawals… soon. 
*Where did I put my gold bullion? Oh yeah, too poor.*
Patrick Burwell, OnlyJesusSaves.com
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