Legal Question in Business Law in Massachusetts
unfair business practice
I am a ck casher / pawn shop /utilty payment center.Recently i changed banks because they said i had to much going on in my accounts because of the Patriot Act I then closed all accounts with said bank. and tranferd all accounts to to a new bank and now iam going threw the same thing again i am a lic ck casher in the state of ma. i have no way of taking my cks to convet them to cash other threw a bank.what are my leagel wrights if any
1 Answer from Attorneys
Re: unfair business practice
This is really more of an issue of knowing your banker than anything else (the problem is the so-called "know your customer" regulations). Changing banks was, unfortunately, about the worst thing that you could have done, as it meant starting a totally new banking relationship with the same level of "suspect" transactions -- with predictable results. Best way to deal with this is to use one of the smaller banks in your area (like Florence Savings Bank, Peoples Bank, Monson Savings Bank) where you actually get some personal attention. Once the bank is comfortable that your business is legit, they can deflect the problems.
Best wishes,
LDWG
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