Couple allegedly spends $100k after bank accidentally deposits it in their account

Fox San Diego ^ | 9/7/19 | BY TRIBUNE MEDIA WIRE

[NohSpinZone]

A couple in Pennsylvania is facing theft charges and over $100,000 in overdraft fees after allegedly using money that was accidentally deposited into their bank account, WITN reports.

State police said the couple living at a home on Cypress Street in Montoursville got themselves into hot water after spending money that wasn't theirs.

Investigators said Robert and Tiffany Williams had $120,000 deposited into their account at BB&T May 31 through a mistake by a teller. But instead of contacting the bank about the deposit, the couple allegedly spent most of the money in just over two weeks from June 3 to June 19.

[Trump.Deplorable]

Fractional Reserve Lending

[chimera]

I understand why you would say that, but the two cases aren’t quite equivalent. Depositors in banks engaging in fractional reserve banking (should) understand that the bank will use their deposits to make investments that will earn a rate of return that will both grow their asset base and allow interest to be paid to depositors (lousy as it might be). Banks must make a good-faith effort to invest their depositors’ funds wisely and a fiduciary duty to follow the rules and act in their clients’ best interest. The element of risk for the depositors and the aspect of acting in the best interest of those depositors by the bank moves it out of the realm of simply harvesting free money resulting from human error.

[Big Red Badger]

So you left California,
You going to post another
Photo?

[Big Red Badger]

To Weird,,,