2 replies to this topic

[markber]

Website of LaSalle Bank National Association
FDIC Certificate # 15407
Address: 135 South La Salle Street, Chicago, Illinois, 60603

[Komboa]

Office of the Ombudsman
Comptroller of Currency
Customer Assistance Group
1301 McKinley Street, Suite 3450
Houston, TX. 77010

November 9, 2005

Dear Sir or MS:

This complaint is made against LaSalle Bank, N.A. for violation of the Electronic Funds Transfer Act of 2004, Title 12, Sec. 229 (b) (1) and deserves an investigation and a fine, if my charges are substantiated. My LaSalle Bank account number is XXXXXX282, and the bank routing number is 071000505.

LaSalle Bank has a stated policy of handling electronic funds transfers within 3-5 business days. Therefore, my transfers from my PayPal business account and online line merchants have taken almost a full week. This inconvenience in having access to my funds has cost me both time (as described), as well as money when the bank charges me for having insufficient funds because of their delay in crediting funds to my account. This includes funds from an online merchant, SiteSell.com, who recently returned a refund to my account, but which have not been properly posted, and I have been told it will be 3-5 days before availability.

Title 12, sec. 229(b)(1) states: Electronic Payments- (1) A bank shall make funds received for deposit in an account by electronic payment available for withdrawal not later than the business day after the banking day on which the bank received received the electronic payment.

This action by the bank is intentional and blatant violation of federal regulations, therefore, it is my intention to bring a lawsuit against LaSalle Bank pursuant to Title 12, Sec. 229.21 for civil liability for the failure to comply with subpart B. of the cited act regulating electronic funds transfer. I believe this is the only way to get LaSalle Bank official’s attention, other than a fine by your agency. Thank you.

Sincerely,

Lorenzo Edward Ervin, jr.
7700 South Shore DR. # 104
Chicago, IL. 60649

[Komboa]

Tella Roberts
Relationship Banker
LaSalle Bank
7131 Stony Island Avenue
Chicago, IL. 60649

November 10, 2005

Dear MS. Roberts:

Thank you for calling this morning in response to my complaint that had been sent to the Ombudsman of the Comptroller of the Currency. I had contacted you because you were the banker who had signed me up for my account at the bank in May 2004. My complaint generally is that my incoming electronic funds are routinely handled too slowly, and in apparent violation of the Electronic Funds Transfer Act, since I was told by LaSalle Online Banking yesterday that 3-5 days was the routine policy of the bank. That obviously is in violation of federal banking laws. Title 12, Sec. 229 (b) (1).

Specifically, I am now complaining about funds which were refunded by an online website vendor, SiteSell.com, on Monday of this week, November 7, 2005 and credited back to my debit card. However, it still has not been posted to my account. The sensible thing to do here is to try to resolve this matter now, have these funds posted to my account by close of business today, since tomorrow is a holiday and the bank will be closed. If nothing is done, this matter becomes a much more serious proposition. To ignore it will result in litigation and perhaps a fine by banking regulators for the 3-5 day policy.

Before any of that becomes necessary, please check on this matter, and forward my complaint to higher level management, and get someone to take charge in correcting this matter, as I had asked when we had spoken this morning.

Hopefully, this will result in more strict compliance of the Electronic Funds Transfer Act by LaSalle, and new internal regulations will be issued by your bank concerning the matter to guide all employees.

Thank you very much for your help in this matter.


Sincerely,

Lorenzo Edward Ervin, jr.
7700 South Shore DR. # 104
Chicago, IL. 60649