Re:Wells Fargo Hit with $1B in Fines
by FireBeyond on Friday April 20, 2018 @06:29PM
(#16888872)
Leaving aside that it's your money and yours to do with as you wish...
Out of curiosity, if you care to disclose, what was your reasoning behind this?
If I'm a bank, I can see a couple of red flags with this (maybe some obscure kiting, or similar), "take five digit sum from account, in a check made out to self - then one month later deposit same uncashed check into originating account"... and "verifying the funds" is not verifying availability, but 'minimizing possibility of sketchiness'.
Out of curiosity, if you care to disclose, what was your reasoning behind this?
If I'm a bank, I can see a couple of red flags with this (maybe some obscure kiting, or similar), "take five digit sum from account, in a check made out to self - then one month later deposit same uncashed check into originating account"... and "verifying the funds" is not verifying availability, but 'minimizing possibility of sketchiness'.