Outline · [ Standard ] · Linear+ My 5/6/04 Compass Bank Press Release: A $6 Fee Instead Of A Reward For Returning $500, Read over 30,000 times!

[Christine]

Summary: When Atlanta based Compass Bank (Compass Bancshares) credited Christine Baker’s checking account with $700 instead of the $200 cash deposit, she called the branch to let them know that they made a $500 mistake. Not only did Compass Bank debit Ms. Baker’s account with the $500, but they also charged a $6 “research photocopy fee.” They refused to issue a credit for the fee. Is this the reward for honest customers?

(PRWEB) May 6, 2004 -- Ms. Baker called Compass Bank after she noticed the unidentified $6 debit when banking online and she explained that Compass Bank had made the error. The customer service representative was unimpressed and stated that Ms. Baker ordered the research and therefore she would be charged. The charge was not reversed.

This was not the first problem Ms. Baker encountered with Compass Bank. In June 2001 they denied her checking account application. Usually, a bank account decline indicates that a consumer has an outstanding debt to a bank and/or wrote bad checks reported to ChexSystems.

Ms. Baker was very concerned that Compass Bank might have declined her checking account due to incorrect information on her credit reports or to ChexSystems. Because her current bank was discontinuing commercial accounts and bank account applications with a credit check result in lower credit scores, Ms. Baker really needed to know why Compass Bank declined her.

The Fair Credit Reporting Act requires the consumer's notification after a decline due to credit with the credit bureau contact information and consumers are entitled to a free credit report. Despite the Compass Bank written promise to send the letter and Ms. Baker's subsequent litigation when they refused to do so, Compass Bank has yet to provide the reason for the decline.

When Ms. Baker purchased her credit reports, she discovered incorrect delinquent balances and even a fraudulent collection for a Pacific Bell (SBC) telephone bill. She had disputed the account with Pacific Bell and their collector numerous times in 1997 and 1998 and she had even provided the cancelled check Pacific Bell had failed to credit to her account in November 1996.

Why does Compass Bank continue to refuse the disclosure of the reasons for the decline?
Until Compass Bank discloses why they declined the checking account application, one can only assume that it was based on the Trans Union credit report. They obtained the report in 6/01 and then again in 12/01 and by December several errors had been corrected and Compass Bank opened the account.

Why did Compass Bank not notice their $500 mistake?
Ms. Baker has no idea how this could happen and she is hoping for answers from Compass Bank.

Why are the Compass Bank Executives allowing this vile conduct?
Compass Bank, the corporation, does NOT make any decisions whatsoever. The human beings in charge of Compass Bank policies decided to charge customers for the correction of bank errors, to ignore consumer protection laws and to engage in despicable business practices. Ms. Baker hopes to get a response from the Compass Bank Board of Directors.

Can Compass Bank legally charge fees to correct their own mistakes?
It seems incredibly wrong and Ms. Baker intends to find out. She is no longer looking for the $6 credit, but for a policy change at Compass Bank and refunds of similar fees to ALL customers. Why should a customer pay the bank to correct a bank mistake?

Why is bank fraud rampant throughout America?
Banks are ignoring legal and accounting requirements to maximize profits. A million times $6 gives Compass Bank a $6 million windfall. That's why all fees have escalated, with NSF, over limit and late fees as high as $39.

Why are fraudulent foreclosures rampant?
The documentation for the Wells Fargo perjury and fraudulent foreclosure is at http://creditcourt.com/lynette/index.shtml and the Transamerica attempt to foreclose on a widow’s home by submitting false accounting to the court is at http://www.bayhouse.com/transamerica.shtml. Wells Fargo and Transamerica were notified of the publications, but they did not take legal action to have the web pages removed as those documentaries are extremely well documented. Banks can get away with fraud and perjury because the courts and regulators don't care and consumers in foreclosure don't have the cash to pay for lawyers.

Why is the government condoning bank fraud?
The banking and finance industry, along with other major industries, pay for the politicians’ campaigns. The OCC, FDIC, FCC, FTC and the Federal Reserve Banks have been refusing the majority of consumer complaints or they rule in favor of the banks. The Bush administration directed the FTC to no longer issue published opinions. When consumers attempt to find justice in court, they are subjected to perjury by corporate executives and managers and vile corporate attorneys.

What can you do?
If you have a complaint about Compass Bank, please post it at Ms. Baker’s new http://compass-bank-sucks.com/ website and forum. Ms. Baker is posting her documentation and information about banking rights. After 2 years of litigation without attorney representation and not a single settlement offer by Compass Bank, it is clear that only massive consumer lawsuits and/or class actions can get results with Compass Bank.

About Christine Baker
Christine Baker maintains several web sites, including http://bayhouse.com, http://creditforum.org/, http://creditcourt.org/ and http://creditfactors.com/. The blog about her federal suit against the CRAs, creditors and collectors as well as the FTC, FCC and the Federal Reserve Bank of Richmond for refusing to enforce consumer protection legislation is published at http://creditsuit.org/. This action was filed on 3/19/2003 in Phoenix Federal Court, CIV 03-525.

Compass Bancshares:
Tim Dingledy
Director of Corporate Communications
(205) 297-3554.

Compass Bank Attorney:
Stephen J. Anthony
Sacks Tierney P.A.
4250 N Drinkwater Blvd Fl 4
Scottsdale AZ 85251-3987
Tel: (480) 425-2614
Fax: (480) 425-4914
E-mail: stephen.anthony@sackstierney.com

Compass Bank Regulator:
The Federal Reserve Bank of Atlanta
Public Affairs Office
Pierce Nelson 404-498-8748
Jean Tate 404-498-8035

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The press release at PR Web with the scanned statements and fees

[Christine]

Read over 17,000 times!

[Christine]

6/3/04: Read over 22,500 times. I also sent a letter to 18 or so Compass Bancshares executives and directors last week, informing them of this site and the press release.

[Christine]

The Compass Bank attorney Stephen Anthony sent a $60 check

“As a token of our appreciation, I enclose a Compass check payable to you for $60, ten times the amount of the charge we imposed on you.”

WOW!!! Bring in the financial planners!

I expected Compass Bank to respond with a policy change and the assurance that other customers who were charged this illegal fee also received the credits. I expected the assurance that all Compass Bank employees were informed of the policy change and that those illegal fees would not be assessed again.

Nobody should have to send out a press release and mail it to all directors just to get a refund. I sure hope I’ll inspire others to take such actions.

It’s not about $6, it’s about ALL these fraudulent Compass Bank fees.

Another press release is on my to-do list.

[Christine]

29,011 accesses at PRweb, that's over 1,000/month.

A few weeks after the release date mostly people SEARCHING for Compass Bank will load that page. Hopefully, many of those were people considering opening an account with Compass Bank and hopefully they decided not to.