- Report: #151455
Complaint Review: BANKATLANTIC - Ft. Lauderdale Florida
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BANKATLANTIC
4201 N. Andrews Avenue Ft. Lauderdale, 33309 Florida, U.S.A.
Phone:
954-567-8820
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BANKATLANTIC Ripoff The Power of a Penny in 30 Days-- Are Our Representatives Failing to Support Our Concerns in the Financial RippOff or Are They Unaware How Far a Penny Will Go Ft. Lauderdale Florida
THE POWER OF A PENNY AND 30 DAYS
They say you can change a behavior in 27-30 days. Would you work for $30 a day for 30 days or .01 cent a day doubled for the next 30 days? THE CONCEPT of doubling for the next 30 days is known as GEOMETRIC PROGRESSION. Here is the example
ONE CENT DOUBLED FOR THIRY DAYS $30 FOR THIRTY DAYS
DAYS DAYS DAYS DAYS
1 .01 2 .02 1 $ 30 2 $60
3 .04 4 .08 3 90 4 120
5 .16 6 .32 5 150 6 180
7 .64 8 1.28 7 210 8 240
9 2.56 10 5.12 9 270 10 300
11 10.24 12 20.48 11 330 12 360
13 40.96 14 81.92 13 390 14 420
15 163.84 16 327.68 15 450 16 480
17 655.36 18 1310.72 17 510 18 540
19 2621.44 20 5242.88 19 570 20 600
21 10485.76 22 20971.52 21 630 22 660
23 41943.04 24 83886.08 23 690 24 720
25 167,772.16 26 335,544.32 25 750 26 780
27 671,088.64 28 1,342,177.20 27 810 28 840
29 2,684.354.40 29 870
30 $5,368,708.80 30 $900
BANKS, MORTGAGE COMPANY, AND FINANCIAL INSTITUTIONS ARE STEALING OUR PENNIES TO THE TUNE OF MILLIONS OR BILLIONS OF DOLLARS A DAY.
By showing you what happens over a 30 day period to ONE PENNY, can you imagine what is happening throughout the fifty states by all financial institutions. This does not include international banking. The average individual working in these institutions, and handling our "PENNIES", (OUR BANK ACOUNT, CREDIT CARD PAYMENTS,MORTGAGE PAYMENTS, BILLS)DO NOT even understand basic accounting.
These workers are instructed on how to create overdrafts in our accounts. By cashing the largest item first, by holding our payments or delaying the processing of our checks, by rerouting our payments to varies states and failing to make timely pickup of these payments from their P.O. boxes, by failing to process our checks according to the stamped postal date, they have created a whole new industry for making money at our expense.
They have also made the Federal Government (U. S. Postal Service) partly responsible by accusing them of failing to deliver our payments in a timely manner, thereby, creating late payments and the assessment of additional late fees.
I want to thank the Florida State Senator and State Representative for directing my attention to Ms. Amia Estes, Consumer Affairs Analyst, Office of Thrift Supervision, Department of the Treasury, 1475 Peachtree Street, N.E. Atlanta, GA 30309 where I have filed a formal complaint against BankAtlantic for its failure to properly disclose information on my account (a violation of Truth In Lending Act) and for overcharging on insurance and taxes by 27% on my mortgage payments.
Every complaint registered is a strike against that financial instution and cause for a state or federal investigation. Every letter to your representative should cause them to take steps to correct this injustice.
Ms. Estes may only represent the Southern Region. I am asking you to write to your STATE REPRESENTATIVE AND STATE SENATOR and express your concerns for the unfair treatment you are receiving from your financial institution. The POWER OF ONE over a 30-day period is geometric. That is 5,368,709 people in 30 Days.
If you tell one person to write in support of your concern and have them tell one person to write, maybe we can reach those individuals that represent us in Congress to make a chnage in the way the American people--especially the poor, women, blue collar workers and individuals living paycheck to paycheck--are being RIPPED OFF BY THE FINANCIAL INDUSTRY.
Copy this letter and mail it if you do not wish to write your own letter. Anything we can do to bring this matter to the attention of Congress is a step in the right direction. The POWER OF ONE DOUBLED EVERYDAY IS A MESSAGE THAT CANNOT BE IGNORED.
ELAINE
LONGWOOD, Florida
U.S.A.
They say you can change a behavior in 27-30 days. Would you work for $30 a day for 30 days or .01 cent a day doubled for the next 30 days? THE CONCEPT of doubling for the next 30 days is known as GEOMETRIC PROGRESSION. Here is the example
ONE CENT DOUBLED FOR THIRY DAYS $30 FOR THIRTY DAYS
DAYS DAYS DAYS DAYS
1 .01 2 .02 1 $ 30 2 $60
3 .04 4 .08 3 90 4 120
5 .16 6 .32 5 150 6 180
7 .64 8 1.28 7 210 8 240
9 2.56 10 5.12 9 270 10 300
11 10.24 12 20.48 11 330 12 360
13 40.96 14 81.92 13 390 14 420
15 163.84 16 327.68 15 450 16 480
17 655.36 18 1310.72 17 510 18 540
19 2621.44 20 5242.88 19 570 20 600
21 10485.76 22 20971.52 21 630 22 660
23 41943.04 24 83886.08 23 690 24 720
25 167,772.16 26 335,544.32 25 750 26 780
27 671,088.64 28 1,342,177.20 27 810 28 840
29 2,684.354.40 29 870
30 $5,368,708.80 30 $900
BANKS, MORTGAGE COMPANY, AND FINANCIAL INSTITUTIONS ARE STEALING OUR PENNIES TO THE TUNE OF MILLIONS OR BILLIONS OF DOLLARS A DAY.
By showing you what happens over a 30 day period to ONE PENNY, can you imagine what is happening throughout the fifty states by all financial institutions. This does not include international banking. The average individual working in these institutions, and handling our "PENNIES", (OUR BANK ACOUNT, CREDIT CARD PAYMENTS,MORTGAGE PAYMENTS, BILLS)DO NOT even understand basic accounting.
These workers are instructed on how to create overdrafts in our accounts. By cashing the largest item first, by holding our payments or delaying the processing of our checks, by rerouting our payments to varies states and failing to make timely pickup of these payments from their P.O. boxes, by failing to process our checks according to the stamped postal date, they have created a whole new industry for making money at our expense.
They have also made the Federal Government (U. S. Postal Service) partly responsible by accusing them of failing to deliver our payments in a timely manner, thereby, creating late payments and the assessment of additional late fees.
I want to thank the Florida State Senator and State Representative for directing my attention to Ms. Amia Estes, Consumer Affairs Analyst, Office of Thrift Supervision, Department of the Treasury, 1475 Peachtree Street, N.E. Atlanta, GA 30309 where I have filed a formal complaint against BankAtlantic for its failure to properly disclose information on my account (a violation of Truth In Lending Act) and for overcharging on insurance and taxes by 27% on my mortgage payments.
Every complaint registered is a strike against that financial instution and cause for a state or federal investigation. Every letter to your representative should cause them to take steps to correct this injustice.
Ms. Estes may only represent the Southern Region. I am asking you to write to your STATE REPRESENTATIVE AND STATE SENATOR and express your concerns for the unfair treatment you are receiving from your financial institution. The POWER OF ONE over a 30-day period is geometric. That is 5,368,709 people in 30 Days.
If you tell one person to write in support of your concern and have them tell one person to write, maybe we can reach those individuals that represent us in Congress to make a chnage in the way the American people--especially the poor, women, blue collar workers and individuals living paycheck to paycheck--are being RIPPED OFF BY THE FINANCIAL INDUSTRY.
Copy this letter and mail it if you do not wish to write your own letter. Anything we can do to bring this matter to the attention of Congress is a step in the right direction. The POWER OF ONE DOUBLED EVERYDAY IS A MESSAGE THAT CANNOT BE IGNORED.
ELAINE
LONGWOOD, Florida
U.S.A.
5 Updates & Rebuttals
Miami Victim
Hialeah,Florida,
U.S.A.
How much can you take and for how long?
#2Consumer Comment
Sat, December 27, 2008
I see some of the unhappy Bankatlantic customer's complains date back five years or more and the bank is still doing the same thing. It is like a slap on the face. How much longer do we have to wait? Taking this company to court for improper banking procedures can not be easily countersuited, specially if you have your bank statements to prove it and more, if you keep your purchase and deposit receipts. Accounting procedutes (bookkeeping) are the same here, in China, in Russia and in every country that uses numbers. Debits subtract and credits add from and to the balance. The order of posting is according to the order in which the transaction is made. Nowadays, most transactions reach the banks in less than an hour. All we need is someone with enought legal knowledge to get the ball rolling. Another Miami Victim
Ken
Randolph,Massachusetts,
U.S.A.
The worst idea ever...
#3Consumer Comment
Tue, December 19, 2006
Writing a check or using a debit card when there are not ALREADY available funds in an account is illegal. Everyone makes mistakes. It has been years since anyone was actually prosecuted for doing this, but the laws remain on the books. If you start hitting banks with nonsense suits, they will not only start countersuing you (and you can bet it won't be a small claim, and it WILL cost you big bucks), but they will start enforcing some of these old laws. The sensible approach is to be writing letters to your legislators and letting them know how unhappy you are with the exorbitant fees being charged. If realistic talks begin about regulating the banks, they will back down in a hurry.
Ken
Randolph,Massachusetts,
U.S.A.
The worst idea ever...
#4Consumer Comment
Tue, December 19, 2006
Writing a check or using a debit card when there are not ALREADY available funds in an account is illegal. Everyone makes mistakes. It has been years since anyone was actually prosecuted for doing this, but the laws remain on the books. If you start hitting banks with nonsense suits, they will not only start countersuing you (and you can bet it won't be a small claim, and it WILL cost you big bucks), but they will start enforcing some of these old laws. The sensible approach is to be writing letters to your legislators and letting them know how unhappy you are with the exorbitant fees being charged. If realistic talks begin about regulating the banks, they will back down in a hurry.
Ken
Randolph,Massachusetts,
U.S.A.
The worst idea ever...
#5Consumer Comment
Tue, December 19, 2006
Writing a check or using a debit card when there are not ALREADY available funds in an account is illegal. Everyone makes mistakes. It has been years since anyone was actually prosecuted for doing this, but the laws remain on the books. If you start hitting banks with nonsense suits, they will not only start countersuing you (and you can bet it won't be a small claim, and it WILL cost you big bucks), but they will start enforcing some of these old laws. The sensible approach is to be writing letters to your legislators and letting them know how unhappy you are with the exorbitant fees being charged. If realistic talks begin about regulating the banks, they will back down in a hurry.
Allan
Lakeland,Florida,
U.S.A.
Banks-Rip Off
#6Consumer Suggestion
Sun, December 17, 2006
Elaine: How true, you have it. BankAtlantic like many others have found a way to make millions from this. They also charge fee when they should not. Everyone should take them to small claims court. They have to hire an attorney for about $1,000. So they can take $32 from you. They won't do this many times.They know most people will complain and than let it go, so they make large amounts of money, just to hear you complain. I will listen to every one complain if they give me $32. Allan Reporter
