Presidential Bank, Fsb
Bethesda,#2UPDATE Employee
Wed, February 18, 2009
It is very unfortunate that one disgruntled customer Joe has attempted to tarnish a Bank's good name. His report leaves out pertinent facts and has made allegations that are not true. No H1 employees were hired and no information was given overseas. The mail room issue was a USPS investigation regarding mail delivery to the Bethesda, MD area. There was no breach of security. Joe was told his allegations were untrue. The facts are: the customer submitted a claim of unauthorized transactions from use of a debit card seeking reimbursement and was denied by the Bank due to the failure of the customer to notify the Bank until five months after the first suspect transaction appeared on a statement. This was documented in an affidavit. The customer attested to noticing unauthorized transactions from five months ago yet did not bother notifying the Bank until they started to see more unauthorized transactions for larger dollar amounts. Simply, if the customers had reviewed their statements or monitored their accounts and notified the Bank of the first series of unauthorized transactions we could have prevented further loss and appropriate reimbursement would have occurred. Joe filed a complaint with the Office of Thrift Supervision, the Banks Regulator. The claim was reviewed by the OTS who found that the Bank acted in accordance with the Federal Regulations. H. Cleaver Presidential Bank