JP MORGAN/CHASE Stops accepting CASH as payment for credit cards, mortgages; forbids customers from storing cash in Safety Deposit Boxes!
Investmentwatchblog.com
April 21st, 2015
In an >UNLAWFUL ACT with incredibly huge implications, one of America’s largest banks, JP Morgan/CHASE has adopted a new policy which FORBIDS PAYING CASH as payment of credit card, mortgage and other debts! Quite simply, this policy appears to violate the Uniform Commercial Code which holds that if a person attempts to use legal tender in payment of a debt , and the legal tender is refused, the debt is “discharged.” (See UCC § 3-603 (b))
Even more unusual, the same bank sent an Amendment to Lease Terms letter to all their customers with Safety Deposit Boxes, instructing them that it is no longer permissible for customers to store CASH OR COINS in safety deposit boxes unless they are “Collectibles.”
The fact that one of the largest banks in America is now refusing to accept American DOLLARS as payment of debts is extraordinary! It signals that the banks see our currency as becoming worthless!
The Rest…HERE
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