There was a time when customer service meant something within the banking industry. Those times seem to be gone. Since COVID, banks have been caught illegally freezing accounts of depositors – keeping them from accessing their money – which could ruin lives. One U.S. bank was recently fined $21 Million for doing this. Still, there have been several reports since of this same thing happening to more people all over the country. Is being good to one’s clients a thing of the past? Are we to expect this sorry state of the banking sector as a “new normal?” Could it turn back in a positive direction or perhaps get worse? Swiss America CEO Dean Heskin and Chris Agelastos explore these questions, what has gone wrong and how you can protect yourself if it happens to you on The Secret War on Cash.
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Articles referred to in this podcast:
U.S. Bank Fined $21M for Illegally Freezing Accounts (newsbreak.com)
Bank Now Takes A Year to Reimburse Customer Missing Money – Franknez.com