Did Bank of America Go Too Far?
This is a story that makes you shake your head. Matthew Shinnick tried to sell some bikes using Craigslist. His trip to Bank of America was not the usual trip I am accustomed to. It ended with him being handcuffed and arrested in the middle of the bank, taken to jail, and out 14k in legal fees. If you ever needed any more motivation to stop going inside and to just use the atm then this is it.
Matthew had sold two bikes to someone in Canada. He was sent a check supposedly from the guy’s business account at BoA. Unsure of the check, he went in to cash it and asked the teller if the account was valid and if it had enough funds in it. After being told yes to both, he signed it. They were suspicious of him and eventually called the cops. The SFPD came and handcuffed him in the bank lobby where he stayed while they spoke for 45 minutes with the BoA employees. He was taken off to jail, strip searched, placed in a cell etc. After being in jail for 12 hours he was able to pay the $4500 to post bond.
In July the courts ruled him innocent but by this time he had spent 14k in legal costs. He wants BoA to pay for the costs but they are refusing, saying a previous court ruling makes them immune when they report possible crimes.
It appears that Clark Howard, the radio talk show host, has taken up his cause. When BoA sent representatives on his show Howard offered to pay half the legal costs if BoA would pony up. They refused. Now he has even advised his listeners to pull their money out of Bank of America. He is even keeping a running total on his website. It’s up to $20 million but I’m not sure how accurate that is.
I have to say, the guy should have known it was fake when the check was sent for 2k for $600 of bikes to cover shipping and the “extra trouble.” However, I hate to imagine that when someone comes into a bank and asks if a check is valid that the reaction is to haul him off to jail.
I’d say a more effective way to protest than closing your accounts would be to open up an account for $125 and not put anything more than necessary to get the bonus. Make money off of them and not be profitable 