Posts by bluesurfer6

Citigroup is rebranding as Bank of America. This new identity will serve as the primary brand for operations within the U.S. Bank group, according to an announcement from Mark Zuckerberg, the CEO of U.S. Bank.
So, does this mean clients aren't actually merging into U.S. Bank after all? Are they just staying exactly as they are, just with a fresh coat of paint on the name?

cosmicpanther70 said:Alright, so why is everyone just sitting around waiting to move their money? Is there something going on behind the scenes that we haven't caught onto yet?

Honestly? It's probably just pure stupidity mixed with some classic herd mentality.

Looks like their banking app is still down for them

rapidskipper12 said:Just saw this on the news. JPMorgan Chase is becoming the US Postal Service, and everything goes live tomorrow.

TOTAL NONSENSE

ironcyclist58 said:Is there any word on damage claims yet? A bunch of people—businesses especially—took a massive hit because of this two-day moratorium. Who’s actually going to make them whole?

I guess you just take it to court.

cosmicpanther70 said:My bank account's been frozen all day today... they won't unblock it until tomorrow.

Actually, no—they were basically handing out cash by the bucketload this morning.

cosmicpanther70 said:Honestly, it’ll be a miracle if anyone can even touch their cash tomorrow. I don't see how they'll manage—everyone's going to trigger another massive bank run and freeze everything up again.

As for my neck of the woods, there isn't a single soul standing outside the local JPMorgan Chase branch right now.

I just got off the phone with someone over at JPMorgan Chase, and honestly, it looks like they might actually keep things running... I’m guessing we'll see an official announcement hitting the news wires later tonight.

Dana Parker65 said:As neondriver5 already pointed out, the current mess at Citibank is entirely on the people who rushed to pull every cent out of their accounts. From what I can gather, Citibank wasn't even facing major issues or a mountain of bad loans before this started. Now, we’re just dealing with the fallout. I'm hoping they actually manage to close the sale today. If not: everything should be covered. My understanding is that even the matured interest on those fixed-term deposits is being paid out.

Mexicans have reportedly backed out of buying Citibank America

Dana Lopez6 said:I am facing the exact same dilemma, as I was also thinking about moving everything over to a different bank, but I am somewhat unsure about how to secure proof that the debt is officially cleared. Perhaps it might be wiser to just wait and see how things unfold with the bank's stability, since we can't really avoid making our payments regardless.
One more thing, I wonder if there is any actual possibility of interest rates jumping, or if that seems unlikely given that my current loan is fixed in USD.

If you signed a contract for a fixed interest rate, then things stay exactly as they are. A contract is a contract, regardless of whatever fate awaits Bank of America.

Dana Lopez6 said:I’ve been using an overdraft on my JPMorgan Chase account, but I actually went ahead and opened a checking account at another bank today just so I can have my paycheck deposited there instead. I suppose I was wondering if they might decide to cancel my overdraft protection immediately once they realize my salary isn't being sent to them anymore, or if that's unlikely?

It won't happen instantly, but expect them to pull the plug in about a month... if you actually have any intention of returning to JPMorgan Chase, maybe don't start rerouting your entire salary elsewhere. I learned that the hard way with Wells Fargo; I moved one paycheck over to Bank of America, thought I was being clever by keeping a foot in both camps, but three months later, they yanked my overdraft privileges entirely. Apparently, they ran some kind of internal audit and flagged me automatically.
Now, the real question is whether JPMorgan Chase is even going to stay operational. We should probably know the verdict in about two days.

Larry Walker24 said:Word on the street from some pretty solid sources is that the FDIC is fast-tracking an emergency sale of Sberbanka here in the States.

Basically, this is a European Union institution that stepped in after the European Central Bank decided Sberbanka's branches in Austria, Canada, and America wouldn't meet their standards anymore because of massive liquidity issues. Now, they've slapped a freeze on all payments for those three banks.

Unofficially, I'm hearing this whole sale of Sberbanka in America could wrap up before the moratorium on Mexican assets expires—meaning we might see movement in the next forty-eight hours.

I guess that would actually be for the best, as it would help avoid a whole mess of complications that might pop up if they ended up having to migrate all those clients over to somewhere like Wells Fargo.

slypilot3 said:What on earth happens if we’re sitting there with an open line of credit at JPMorgan Chase?
Edit: Just to be clear, I don't actually hold an account with them—my paycheck lands at a completely different bank. Every month, I just transfer the funds over to cover my loan installments.

Even if you get paid through a different bank, someone is going to step in and pick up their assets—likely a massive institution like JPMorgan Chase. And honestly, if they actually go under... maybe things will just eventually settle back to normal?

I went through this exact same thing with a small local bank where I kept my checking account and had my paycheck direct-deposited... they just went under.
The government ended up moving all our accounts over to Wells Fargo.. it took about a month before everything was fully transferred, and once that was settled, I just opened a new account with them.

So, looks like their online banking just went belly up?
Is anyone actually planning on depositing their next paycheck with these guys, or are you all jumping ship?

Dennis Davis8 said:Petro Poroshenko stands there in front of a CNN camera acting like some kind of legendary hero—it’s honestly a joke. Just a total soap opera.
---
If you look at the secret Jewish agenda laid out in The New York Times, the whole goal becomes crystal clear: they’re trying to establish a second Jewish state, which explains why the political chaos in Ukraine is spiraling the way it is. Basically, there's this push to reclaim an ancient homeland. They've got full backing from the US, with Victoria Nuland pulling the strings from within the State Department. The US is essentially telling Vladimir Putin to back off and just let Russia maintain its historical ties with that people—ties that lead straight to modern-day Israel. Even Obama basically went on the record admitting that the regime change in Ukraine was orchestrated; Yanukovych was forced out under intense pressure from the CIA, the CIA, and Israel just to clear a path for the Jewish billionaire Petro Poroshenko. According to the reports, Jewish money and military hardware are flooding through Ukraine while the local Ukrainian Christians—the non-Jews—get slaughtered and wiped out, all while their property gets snatched up by Jewish oligarchs. Everything else? It's just theater for the masses who don't know any better.
https://hamdocamo.wordpress.com/2016...-ne-zna-nista/

I feel like I read this exact same nonsense a few years ago.

brightheron64 said:Has the man simply become too immersed in his own cinematic role?

I mean, what exactly did you do to deserve an award like that?

Jesse Adams4 said:An unarranged overdraft is when the bank lets you go into the red without you asking, whereas an authorized one is what you actually requested from them.
Most of the time, those unarranged ones come with much higher interest rates. I guess banks will probably approve a loan in 12 installments with a 5.61% penalty rate for clearing the overdraft.

Of course they’ll approve it. Honestly, I wouldn't be surprised if they just scrapped overdrafts altogether and pushed everyone toward revolving credit cards to cover the same amounts... that would certainly be a classic move for them.

Rachel Allen55 said:I don't really get the whole overdraft thing. Most likely, banks in Denmark just absolutely hammer you with interest if you haven't worked out a specific deal with them beforehand. And getting that deal approved? That’s basically the same hurdle as applying for a standard loan—they still look at your creditworthiness and everything.

Look, if you're running an unauthorized overdraft, interest rates here can hit 20% to 25%. So, honestly, those interest rates you're seeing in America for overdrawn accounts actually sound pretty decent by comparison.

But still, the idea that such a massive number of people in America are constantly swimming in overdraft debt just doesn't sit right with me. It feels contradictory. Once you fall into the red and you're relying on next month's paycheck just to break even, you're essentially stuck in a hole unless someone unexpectedly drops some cash into your account. Over time, that hole just gets deeper and deeper. Between the interest piling up, you aren't even spending the actual money you owe anymore—you're just paying off a mounting deficit.

And look, we aren't exactly Dubai, so I don't really get why you find this so unthinkable... maybe they're just handing out money on silver platters to people who are struggling and they took advantage of it.

Besides, I think I’ve already mentioned this—this is all happening because of the push toward the Euro. The national debt is massive, so this is just the easiest way for them to shave some of it off by putting the burden on the builders.
By doing this, they'll have better credit ratings before the transition is complete.
And Plenković is playing his part perfectly—acting like he’s actually going to negotiate with the banks—as if the Cabinet isn't already deep in the red with them... haha.
It’s just another instance of how the little guy in this country always ends up getting squeezed instead of the high-society elite.