Tuesday, January 10, 2012
If you've had the great misfortune to deal with Sovereign Bank, then you probably applaud the Occupy Wall Street protests against Financial Institutions in recent months.
This rinky-dink Bank engages in unethical and dishonest business practices and its employees willingly and knowingly lie to potential account-holders daily.
For instance, disgruntled applicants have reported that after applying for a checking or savings account online at Sovereign's web site, they received an e-mail communication informing them that their account had been approved.
However, when they follow up with a telephone call (as requested) employees - such as Linda Sheehan - give them the run-around in a deceitful ploy to - not only extract confidential personal information - but ferret up data they are not legally entitled to (in violation of their rights).
According to my sources, Linda Sheehan, is the worst offender!
When Ms. Sheehan makes first contact, she engages in a senseless round of phone tag (she hides behind company voice mail for days) in a shameless effort to demean, wear-down, and humiliate potential account-holders.
Then, when she makes direct connection, she proceeds to engage in a lot of silly game-playing to gain the upper hand (which, at times, also borders on the unsound and ludicrous).
In spite of the fact she is keenly aware that the credit screening process is flawed at Sovereign, she persists -usually to the dismay and disadvantage - of the consumer.
For example, when Sheehan pulls up a credit account from the customer's credit profile - a car loan or mortgage document - on many occasions the item will be listed under the "parent" company; subsequently, because the consumer had no "direct dealings" with that entity, they will undoubtedly answer the question incorrectly.
In the final analysis?
Sheehan will summarily deny the application (the customer was previously told was approved) in spite of the fact the correct information is at their fingertips (and they are the individual they purport to be!).
In one bizarre twist, Ms. Sheehan actually denied an account, because the individual could not provide her with the name of the sign of the Zodiac he was born under.
I know of no Banking Law in the U.S. that requires a citizen or resident be familiar with the arcane arts.
I suppose if a Chinese applicant applied applied, they'd be turned down - too - because Sovereign was unfamiliar with the Asian culture (and/or mythical Chinese creatures)!
Theatre of the absurd?
Then, once the individual has jumped through hoops - and been forced to participate in a shoddy horse & pony show - they are informed for the first time that Sovereign doesn't even have a bank branch in their state!
"Direct deposit only," Sheehan snipes in a snotty tone of voice.
The information should have been disclosed and divulged fully at the offset of the interview pursuant to applicable U.S. banking laws.
What happens to the personal information collected illegally during the course of the interview?
Does Sovereign promise to destroy the data collected after-the-fact?
Of course not!
Avoid these disreputable bankers like the plague!
And, spread the warning to your friends, family, and business associates.