Mia
scottsdale,#2Consumer Comment
Wed, December 22, 2010
"Washington Mutual offered FREE CHECKING for LIFE, " and they gave it to you. Washington Mutual failed as an institution and was taken over by the FDIC. Their business practice of giving millions of loans to people who could not afford to pay those loans back was the catalyst of Washington Mutual's demise. Chase purchased WaMu through the government and there is absolutely zero obligation on the part of Chase to comply with the policies and procedures of Washington Mutual. Any agreement they enter into is with the FDIC. It can take many months of assimilation when one bank takes on a failed institution's clients. In addition, the new policy at Chase is just a natural progression of streamlining all of it's accounts. Original Chase accountholders are being affected by this new streamlining process as well. Calm down, no one has decided to punish WaMu's former clients. Oh, and yes, what they are doing is perfectly legal. But you should consult a lawyer if you feel strongly about any alleged contract violations. The initial consultations run anywhere from $250-$400 for the first hour. For that money you could have your account at Chase and pay the $120 a year...But I understand it is the principle you are interested in, not the money.
The good news is this: No one has a gun to your head. Close your account. There are plenty of banks you can choose from that will want your money and value your business.
Good Luck!
Mia
scottsdale,#3Consumer Comment
Wed, December 22, 2010
"Washington Mutual offered FREE CHECKING for LIFE, " and they gave it to you. Washington Mutual failed as an institution and was taken over by the FDIC. Their business practice of giving millions of loans to people who could not afford to pay those loans back was the catalyst of Washington Mutual's demise. Chase purchased WaMu through the government and there is absolutely zero obligation on the part of Chase to comply with the policies and procedures of Washington Mutual. Any agreement they enter into is with the FDIC. It can take many months of assimilation when one bank takes on a failed institution's clients. In addition, the new policy at Chase is just a natural progression of streamlining all of it's accounts. Original Chase accountholders are being affected by this new streamlining process as well. Calm down, no one has decided to punish WaMu's former clients. Oh, and yes, what they are doing is perfectly legal. But you should consult a lawyer if you feel strongly about any alleged contract violations. The initial consultations run anywhere from $250-$400 for the first hour. For that money you could have your account at Chase and pay the $120 a year...But I understand it is the principle you are interested in, not the money.
The good news is this: No one has a gun to your head. Close your account. There are plenty of banks you can choose from that will want your money and value your business.
Good Luck!
Steph
USA#4Consumer Comment
Tue, December 14, 2010
I used to bank with WAMU but when jp morgan chase took over they went to hell and I closed my accounts with them and went to another bank