Got a surprise letter in the mail today from one of our banks. First page of the letter says (nicely) that one bank has taken over our bank and everything will remaind the same. Our bank will remain open, the tellers we are use to will be there, our money is find! (It really says that!)
The second page of the letter says - in bold letters - oh, and all caps - oh, and star quotes - ***YOUR INSTITUTION HAS BEEN CLOSED *** YOUR DEPOSITS HAVE BEEN TRANSFERRED TO ANOTHER INSTITUTION Then it goes on to explain how to claim ownership to your (own) money and if you don't the money will go to the state in 18 months. "NO WONDER THERE ARE RUNS ON BANKS WITH IS KIND OF LANGUAGE."
Needless to say I do not think new bank will be keeping our money with that attitude.
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