Let the complain process begin!!!
In my ongoing saga against Bank of America, I’ve resorted to filing complaints with the State’s ATTNY Gen. Office of Georgia, Delaware, North Carolina and California.
Why?
Because Bank Of America, like countless other credit card companies and financial institutions sets up PO Boxes in multiple states so they can take advantage of each state’s APR, which vary wildly.
It works like this:
Your APR or Annual Percentage Rate is a calculation of the Prime Interest Rate set by the Federal Reserve plus. The “plus” are the interests rates institutions are allowed to tack on depending on the state they do business in. The result allows financial institutions to bill anywhere from 8-24%. Once they compound it and add on fees, you’re dealing with loan sharks.
Now because the rates vary by state, Bank of America sets up PO Boxes and offices in major markets so they can shift your account to the state with the highest interest rate. It’s like playing blackjack. These a-holes watch for rate increases, shift your acct. to a “dept” in said state, and your rate goes up; because they’re doing business there now so it’s a legit move.
Crooked Ock Suckers.
So I’ve had to file with all these attorney Generals just to deal with them.
And the result?
I’ve gotten correspondence from 5 states telling me that my complaint is out of their jurisdiction and has been forwarded to an org known as the:
Office of the Comptroller of the Currency
Customer Assistance Group
1301 McKinney Street, ste. 3450
Houston, TX 77010
Apparently, the Office of the Comptroller of the Currency is a bureau under the US Treasury Dept., which is charged with overseeing all issues related to banks and financial institutions. Or in their words:
"The OCC's nationwide staff of examiners conducts on-site reviews of national banks and provides sustained supervision of bank operations. The agency issues rules, legal interpretations, and corporate decisions concerning banking, bank investments, bank community development activities, and other aspects of bank operations."
That’s right kiddies, your boy is going federal. Complaining to the money men in DC, i mean TX.
Hey why aren't these guys in DC like all the other federal folks? Then again the US Mint and Federal Reserve are both privately owned and run; So who knows anymore? I'm lucky these people are still operating on this continent.
Stay tuned--i'll let you know what comes next.
