Transform Yourself From Passive Sheep To Active Citizen
Sheep led to the slaughter don't even make a sound!
I tell you here what the banks do not really want you to know. For example that:
1. You do not own the money that you have deposited in the bank... The bank does.
2. However, the bank has issued you the equivalent amount of your deposit in credit and therefore the bank is your debtor, and you are the bank's creditor.
3. Your bank is obligated to redeem your credit whenever you demand it. If it does not, then it likely has broken the law.
Your Account is not yours! ...Really??
Your bank account is subject to being claimed by someone else and therefore in Washington, D.C. as in most states, there are laws designed to protect you from these so called adverse claimants. In the District of Columbia, the statute is D.C. Code §26-803. However, after observing the court hearings in this matter, I would advise any nonprofit corporation in D.C. to maintain deposits in at least two different banks; preferably one outside of the District of Columbia. My story illustrates that the D.C. adverse claimant statute does not always protect depositors as it was intended.
Banks often have powerful friends!
This site informs you of a real life situation in which a bank with the acquiescence of government officials is able to deprive a client of the credit that it has painstakingly built up over many years with many deposits. Hopefully, you can learn from this site and take steps to protect your hard earned funds. Especially vulnerable, is any Non-profit Corporation operating in the District of Columbia.