Bank Runs Feared

[Riot]

Originally Posted by randallscott35

http://market-ticker.org/archives/19...-Accounts.html

Ah, I got you now - going back to the article within the one you quoted. Looks a really nasty fee scam to screw customers. But I still don't understand what this has to do with possible bank runs.

So buyer beware. If you are with Citi, you have a month and a half read the fine print on your accounts, and to take control and responsibility for your own financial well-being.

"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."

And Citi says it applies only to Texas.

What is federal banking law regarding this type of stuff - Dala?