Thread: Citigroup Warns Customers It May Refuse To Allow Withdrawals

Citigroup Warns Customers It May Refuse To Allow Withdrawals
John Carney

Business Insider
Sunday, February 21, 2010

The image of banks locking their doors to keep customers from making withdrawals during a bank run is what immediately came to mind when we heard that Citigroup was telling customers it has the right to prevent any withdrawals from checking accounts for seven days.

“Effective April 1, 2010, we reserve the right to require (7) days advance notice before permitting a withdrawal from all checking accounts. While we do not currently exercise this right and have not exercised it in the past, we are required by law to notify you of this change,â€

ANYONE WHO WANTS TO SEE THE ORIGINAL CITIGROUP DOCUMENT:

Open page 22 of their Client Manual PDF and read the right column Sections: Withdrawal Refusals & Withdrawal Notice.

https://online.citibank.com/JRS/popups/ ... 091228.pdf

They say:

[We reserve the right to require seven (7) days advance notice
before permitting a withdrawal from ALL checking, savings and
money market accounts.]

So what did al those GD bailouts really do for these thieves?