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By Ken Margraf
Goldendale 

Bank's practice is deceptive

 

August 30, 2017



I recently received an updated “Terms for Business and Deposit Account Agreement” from Columbia Bank. I am not in the habit of reading the fine print but for some reason this time I did. I came across an “added” line that I found very concerning. Again, this line is both for personal and business accounts. It reads: “We may refuse to open and account and may close your account at any time for any reason or for no reason at all.” “For No Reason At All” I particularly found offensive.

I contacted the bank for an explanation. The answer was essentially that “we wouldn’t do that.” Then why is it in your documents, I asked. The answer was to send me up the chain of command. The second person gave the same answer as the first and then was to have me contacted by someone higher up. That person has not contacted me after more than a week so I am following through on what I told the bank contacts I was going to do—write a letter to the editor to be sure local folks are aware of how Columbia Bank is choosing to deal with its account holders.

My concern is that a comment as broad as this opens the door for abuse. I have had no difficulties with our local branch and am sorry that the headquarters has decided to take such a hard line. It appears I will need to look for a bank that does not behave in this manner.

 

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