This may be old news, but I didn’t know about this until today. According to an article from the Boston Business Journal; “check-writers” banks are charging fees of $5.00 to $6.00 to check cashiers who do not hold bank accounts at the writers bank, okay, that’s high fee, but I don’t have a problem with it. Here’s where things get murky, my bank is also requiring thumbprints from the people cashing Ford Realty Inc. checks.
Bank of America and Brighton based People’s Federal Savings are among the Boston’s banks that now require the payee who do not have an account with the bank now require thumbprints. The argument from the Bank is that, “the thumbprint…can be used as evidence in a court of law if the check is found fraudulent…”
I’m sorry I know this has nothing do with Boston real estate. But, can someone help me out here with few questions: Who is keeping track of the {Bank bailout} thumbprint records? Who has access to this thumbprint data base? If someone cashes my company check and is thumbprinted…will their mortgage company have access to this? I can go on and on, but I just don’t want to finger point all the problems I see.
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