raincom

27 ms·

361.
by raincom 3y ago
Currency Transaction Reports(CTRs) are strictly dollar-driven: if someone deposits/withdraws an amount over $10K in a single transaction, CTR is filed automatically. However, if you Zelle to X for a few times, and this X seems to recei
362.
by raincom 3y ago
It appears to be a wrong link.
363.
by raincom 3y ago
It is combination of both factors, along with others. (a) big banks (b) BSA compliance manuals (AML, KYC) (c) regulators slapping huge fines against big banks for "weak controls" (d) an algorithmic solution to show that banks have
364.
by raincom 3y ago
Two things: (a) Banks can be vague in their SAR filings with “transaction with no apparent economic, business or lawful purpose” (b) What BSA manul says: "No bank, and no director, officer, employee, or agent of a bank that reports a s
365.
by raincom 3y ago
Yes, they can. At least with credit unions, they can call you for clarifications when they or their system flags your transactions suspicious. With big banks, once they find your transactions suspicious, they will send a notice to close yo
366.
by raincom 3y ago
Banks send out a cashier check upon closing accounts. I was pointing out some edge cases (last deposited check being the culprit of closure; however, this check was cleared by the payee bank). Contingency is one reason. It also depends on w
367.
by raincom 3y ago
Lawyers are not of much help when it comes to reopening already-closed accounts. Most of the time, banks will send a cashier check for whatever money left, if they close accounts abruptly. Sometimes, they give a month to move funds elsewher
368.
by raincom 3y ago
Earlier, banks used to warn customers at least once for any disrespect towards employees. Now, expect big banks and financial institutions to close accounts without any warning, unless you are a wealthy client. Charles Schwab and Chase do t
369.
by raincom 3y ago
https://www.bankersonline.com/ is a place where people working for banks in BSA compliance, hang out. Based on my reading of that forum, there is a push from BSA auditors to file more and more SARs. Also, anon comments like
370.
by raincom 3y ago
Regulators fine big banks for "weak controls". To show that they have "strong controls", they have to show quantitative data. Now, every bank is engaged in one-upmanship. Since we don't have data on the number of ac
371.
by raincom 3y ago
No, they don't; however they cancel your checking, savings, business checking, credit cards. Only exception is mortgages.
372.
by raincom 3y ago
The regulator didn't go through Nigel's case at all, as 'it is understood that the data does not cover his case, given that the bank never followed through with the closure' [1]. What FCA found that banks never debanked
373.
by raincom 3y ago
Natwest's initial response was what you said: his accounts fell below a certain threshold after he paid off his mortgage. Then Farage sought info from Natwest using "subject access request". In those documents, it is "fo
374.
by raincom 3y ago
Good that you trust Chase and other banks with the lame 'evidence' that they provide such as: "Financial institutions have an obligation to know our customers and monitor transactions that flow through our customers' acc
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by raincom 3y ago
I just gave an example based on what I read on reddit, as I never deposited $500K in my life. I have no problems with banks' closing accounts, as I have accounts with a couple of local credit unions, who are nice to me. What caused the
376.
by raincom 3y ago
At least in the UK, NatWest debanked Neil Farage's account for his political views. Even its CEO resigned over her lying. "19 Republican states accuse JPMorgan of closing bank accounts and discriminating against customers due to t
377.
by raincom 3y ago
Regulators fined Chase and other big banks for "weak controls". One way to show that these big banks have "strong controls" is to change parameters for these algorithms. Many legitimate transactions fall under structurin
378.
by raincom 3y ago
Yes, they sent me a cashier check for a small balance (around $1000) I left, as Chase gave me 45 days heads up for closure. However, for some people, Chase dragged out until after CFPB complaints are filed. The case one should worry about t
379.
by raincom 3y ago
Banks hide behind Bank Secrecy Act and other regulations in order to debank people. Chase closed my account, and the reason Chase gave: "Financial institutions have an obligation to know our customers and monitor transactions that flow
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by raincom 3y ago
Can you describe more about Lenin and Stalin's tactics? Any pointer is welcome, as I vaguely heard of Bolshevik and Molshevik's robberies.
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by raincom 3y ago
It is called "prosecutorial discretion" used by prosecutors to favor the powerful, wealthy, connected folks. Right now, this discretion is extended to favor ordinary folks belonging to right categories.
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by raincom 3y ago
Yes, you have a great point: folks who close deals, who talk to customers, who finds prospects are NOT parasites, even though they can make more than the hard working engineers. The real parasites are elsewhere.
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by raincom 3y ago
TPM = Technical Project Manager; SDE = Software Development Engineer; SDM = Software Development Manager
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by raincom 3y ago
A great insight, indeed.
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by raincom 3y ago
Yes, one needs some or another political persecution to get asylum. In UK, lawyers coach applicants to get asylum [1] “Some pro-Khalistan political parties in India charged one to two lakh rupees--$2500 USD--for giving ‘letter’ to youth, wh
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by raincom 3y ago
In a way, this explains why many international Ph.Ds go back to their home countries these days to join local universities. It is good for these countries.
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by raincom 3y ago
This tells us that too many people chase these jobs. Maybe, time to hire as many as possible using basic income scheme.
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by raincom 3y ago
Your wife is on tenure-track and Kariko was on a lower track designed for postdocs, researchers, leading to research assistant/associate professor, etc. Kariko was treated badly on the track she was on——a track that doesn’t require str
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by raincom 3y ago
Expect more interest rate hikes, because of this.
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by raincom 3y ago
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