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Thread: Bank Increases Overdraft Protection 4.9 mil, She Blows It

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    40th Mojave Summer DesertBerean's Avatar
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    Bank Increases Overdraft Protection 4.9 mil, She Blows It

    So who should do what?

    This was overdraft protection so she should've known they didn't really GIVE her money. On the other hand, the bank should have been more careful.

    http://www.opposingviews.com/i/world...-account?fb=ns

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    Troll Magnet Sparko's Avatar
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    well technically she didn't "steal" the money, she borrowed it. she then owed it back to the bank. If she had no plans or means to repay it and "borrowed" it anyway, then that is fraud. Like taking out a loan knowing you can't pay it back.

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    tWebber
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    but it must be from God

    -- or --

    I was expecting that money as an inheritance for my uncle who died in Nigeria
    Last edited by mikewhitney; 09-03-2016 at 04:50 PM.

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    Troll Magnet Sparko's Avatar
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    Quote Originally Posted by mikewhitney View Post
    but it must be from God

    -- or --

    I was expecting that money as an inheritance for my uncle who died in Nigeria
    the money wasnt actually in her account. it was overdraft protection. If she spends more than she had in her account, the bank lends her the amount she is short (and usually charges a high fee for it) so she spent 3 million over what she had, so they lent her the 3 million. she had no way or plan to repay it, so she committed fraud since she overdrew on purpose knowing it would be covered.

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    40th Mojave Summer DesertBerean's Avatar
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    Quote Originally Posted by Sparko View Post
    the money wasnt actually in her account. it was overdraft protection. If she spends more than she had in her account, the bank lends her the amount she is short (and usually charges a high fee for it) so she spent 3 million over what she had, so they lent her the 3 million. she had no way or plan to repay it, so she committed fraud since she overdrew on purpose knowing it would be covered.
    But he's right.....people do rationalize precisely that way...it's a MIRACLE! Yeah...right.

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    tWebber Teallaura's Avatar
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    Quote Originally Posted by Sparko View Post
    well technically she didn't "steal" the money, she borrowed it. she then owed it back to the bank. If she had no plans or means to repay it and "borrowed" it anyway, then that is fraud. Like taking out a loan knowing you can't pay it back.
    The bank has an obligation to do its due diligence - which it obviously didn't. If they were continuing to fund her account when it was unquestionably and massively overdrawn, then she can reasonably conclude the funds are available to her. The bank expects due diligence from their customers - hence overdraft charges - therefore they must also exercise due diligence.


    It might arguably be embezzlement - although I don't see how - but not fraud. Actually, I doubt it's even criminal.


    Wrong, yes, but not actually criminal.

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    tWebber Teallaura's Avatar
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    Quote Originally Posted by DesertBerean View Post
    But he's right.....people do rationalize precisely that way...it's a MIRACLE! Yeah...right.
    She didn't have to rationalize - just assume if the bank is doing it, it must be okay.


    Chapter seven is in her foreseeable future...

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    Troll Magnet Sparko's Avatar
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    oh come on Teal. she didnt just accidentally spend 3 million and it was miraculously covered. she either got a letter telling her that her overdraft limit was being increased to $4M or she accidentally went a little over and the bank deposited $4M in her account. Either way she would know it was an error. And that since it was overdraft it was a loan and she would have to pay it back, she also knew she could not pay it back. so she spent money she could not repay. that is fraud. or stealing. it is not a mistake in her favor and it is not the bank's fault since even though the amount was too high it was still a loan, not a gift.

    she got greedy. and stupid.

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    40th Mojave Summer DesertBerean's Avatar
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    I imagine she would have got some letter or email informing her of the increase. The article states the bank then tried to contact her about theberror. They should have just turned the spigot off but maybe she had spent it so fast before they could do so.

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    to err is human. but it takes a computer to really screw thing up.

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