why are there no Bank Watch groups to expose bad banking practices and watch the big banks to protect the little guys (ie - 90-some percent of the consuming population
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why is it almost never possible for a consumer to get ahold of some of these investigation groups? It doesn't help much to have an investigator on the RBC payroll to look into an issue and say "Oh yeah, that's all good"
I think banks are negligent, especially considering that a person's credit rating basically makes or breaks their future life. If a bank is allowed to change a person's credit rating with no dispute process or anything, that's too much power.
For example: my dad was paying off my brother's student load through TD. The bank took payments from my dad's account for 2 months, and then stopped, without telling anyone, on the grounds that apparently he "wasn't allowed to make payments" for my brother. That just doesn't make ANY sense to me. So now, they've lowered my dad's credit rating for some reason, AND IT WASN'T EVEN HIS LOAN!! so figure that one out!
PS - did you know that under new Canadian anti-organized crime legislation it's pretty much illegal to not use a bank if you want to use money?? If you have a few thousand dollars in cash it can be confiscated by police as "suspected proceeds of crime" and even if you clear your name, you won't get your cash back. Not only that, but they don't have to actually prove that it IS indeed a proceed of crime.
Before, people would say "Don't use banks if you hate them so much." And that's what I did. but now, not using a bank isn't even an option.
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besides, i work for RBC..so you struck a chord.
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I think banks are negligent, especially considering that a person's credit rating basically makes or breaks their future life. If a bank is allowed to change a person's credit rating with no dispute process or anything, that's too much power.
For example: my dad was paying off my brother's student load through TD. The bank took payments from my dad's account for 2 months, and then stopped, without telling anyone, on the grounds that apparently he "wasn't allowed to make payments" for my brother. That just doesn't make ANY sense to me. So now, they've lowered my dad's credit rating for some reason, AND IT WASN'T EVEN HIS LOAN!! so figure that one out!
Reply
Before, people would say "Don't use banks if you hate them so much." And that's what I did. but now, not using a bank isn't even an option.
Reply
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