Bank of America Complaint

Legal Nightmare - Trustee

Posted By: incensed on 11/6/2009

Location:
North Dale Mabry Highway
Tampa, FL 33618

I have power of attorney and health surrogacy and am the survivor trustee for my parents who are both mentally incapacitated. I have been acting in behalf of them for years. They have money in Bank of America. Recently my sister and I transferred all of there investments to an investment firm which pays bills and conntinues to invest their money.

Bank of America holds more than 56,000.00 of their money.

Yesterday I went to the branch of Bank of America where the funds are held. The person I spoke with did not follow procedure when dealing with the legalaties of these situations. She did not fax my legal papers to their legal department and then related that my very demented father, who has to have 24 hour supervision had come to the bank and stated I wasn't allowed to touch his money. She told me the legal papers didn't matter. So I called my contact person with the investment firm to ask what to do. I was told to go back and tell them to please fax the documents to their legal department. The man with which I spoke refused to accept any of the physician's letters, refused to call the legal department, refused to fax the documents and was extremely rude to me. With the help of the trust officer I was able to find a branch who did as I requested. He faxed the documents to Bank of America's legal department.

Bank of America is a renegade bank, whose officers refuse to follow legal conscripts and abuse and humiliate their customers and representatives of those customers.

My trust officer also called that branch and was told that because my severely demented father called them they didn't have to honor the legal documents. When she asked for the last name of the person whith whom she spoke, the person replied that they only give first names.

There appears to be no one to complain to about rude customers service reps who humiliate their customers and refuse to follow the orders of legal documents.


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    User Discussion - Add your 3 cents!


    LadyScot (11/06/2009)      
    A POA can be revoked at any time. Do you have a legal document signed by a judge giving you legal rights over your parents? Have they been legally declared incapacitated? If not, then your papers mean nothing. And yes, your father can demand they not allow you to do business UNLESS you get those papers.

    madconsumer (11/07/2009)      
    correct ladyscot!

    as well, until a judge declares the incapacity, the doctors letter means nothing to the bank.

    raven2002 (11/07/2009)      
    I may be confused here, however, I believe most POA documents have dates included or language that indicates the POA is indefinite.

    At least the POA my father and I had drawn up many years ago when we knew a health issue was going to incapacitate me for a few months did.

    The language was written in such as a way as to indicate he had the legal right to act on my behalf in all matters until such time I was able to do so myself.

    PepperElf (11/07/2009)      
    Out of curiosity is the POA a general or a specific?

    I know when I had to do a POA to give Mom access I did both just in case. I wanted her to add herself to the account as well to make things easier for her, but the bank wouldn't let us without my signature.

    I would suggest trying to get a printout of the bank's policy regarding POA

    and what mad said too, get a lawyer.


    as for length of POA that depends. the ones I did were only for a year, but when dealing with someone who cannot legally care for themselves there might be options for longer running POAs

    madconsumer (11/07/2009)      
    correct raven, this is the part we do not know about the poster. the poster did say her father called the bank.

    "My trust officer also called that branch and was told that because my severely demented father called them they didn't have to honor the legal documents."

    raven2002 (11/07/2009)      
    Is she saying her father told them not to honor the document? If so, the bank is in the wrong. They cannot allow a verbal directive to override a written directive.

    PepperElf (11/07/2009)      
    though a verbal might be enough to make them question the documentation

    raven2002 (11/07/2009)      
    I can understand that point, Pepper. However, I would have to say if a bank chose to question a legal document due to a phone conversation I would hesitate to do business with said bank.

    More and more of our elderly are affected by dementia/alzheimer's. More and more folks are having to get at least a financial POA to help manage their relatives lives and allow them to live as independently as possible. AS more baby boomers begin to age, more banks are going to get calls from confused dementia patients.

    KenPopcorn (11/07/2009)      
    I'm pretty sure that a POA is only valid when the person granting it is competent. If not competent, then the courts have to be involved. The very fact that you have letters saying that they are not competent could be the reason that they won't release the funds.

    PepperElf (11/08/2009)      
    my pardon, but i prefer not discussing reviews like this via IM.

    I'm sure you'll understand.


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