Quote Originally Posted by ADBrooks11 View Post
I have a question. I assume the bank has a legal obligation to cash my check that came from them (stamp or not). Does anyone know for sure on their legal obligation on cashing their own checks? I do not have an account with them
And so does the Credit Union, but they have a clause in the Agreement I am sure that they can close down any account, whenever they please.

This credit union - the whole chain closed down due to redemption practices.


That was with a large number of trust accounts going for some time. And the trustees choosing to "non-endorse", to redeem.

Let me tell you what I read in this thread. The Credit Union is telling the truth, just like your assumption quoted in this post. Things fall into perfect order and the Credit Union does not like being subject to FDIC regulation. Within itself maybe, I speculate about the differences between banks and credit unions, it could offer remedy to private credit securitization - but only within itself. You deteriorate the law boundary that might allow that by citing the Bankers' Code outside the credit union's charter.

My point is also that while you have the account open at the credit union they must operate within the contract. The choice is to close the account and the attorneys know it will go a lot better if they can convince you to do so.

The last thing is that you answered to the boss' bank jurisdiction by answering the question. The correct answer is that they need to ask your boss, what your boss thinks. Do not speak for your boss. Peter did this in his impetuous way and the very next breath is denied entry into the House. Read Matthew 17:24-27.

No need to give testimony that fails to meet Rules of Evidence. I speculate though, that you will be fielding ever-more clever questions for a few weeks.