Bank of America Chester.

[garlok]

Re: Bank of America Chester.

The original news bulletins here in Wales actually stated more than half were domiciled in North Wales. That is probably correct due to the cheaper housing and the levels of commuting to that particular estate in Chester which is remarkably close to RBS and a Barclaycard operation.

The flags were not yet flying at half mast today.

regards
Garlok

[PlanB]

Re: Bank of America Chester.

They are pulling out of the UK credit card market due to huge losses. They are saying they bought the business in 2006 from MBNA.

Serves them right fo buying lemons! regards Garlok

I'm one of those lemons. Actually I'm three of those lemons! That'll teach 'em

[pompeyfaith]

Re: Bank of America Chester.

And the offer of a loan to spread payments lol and the blank cheques they kept sending knowing that you where already in debt enough

[oscar]

Re: Bank of America Chester.

Oscar,

They are an American company trading in the UK and any business undertaken in this country has to conform to all UK law.

I have a Judgement in favour of MBNA for a very small amount and it will never be cleared as ill be in my grave.

Oh I am more than well aware of that PF - they have to comply with FSA etc. But this is just some of the stuff they spout. Some staff even believe it as being correct.

EDIT - Sorry, just re-read my post .... I forgot a little bit of the end lol

[pompeyfaith]

Re: Bank of America Chester.

However, one part that is correct is with respect to the laws of the land. I have heard of payment plans being refused because they wont be completed in 10 years, which they need to be under American law, and they are an American company.

Oscar,

They are an American company trading in the UK and any business undertaken in this country has to conform to all UK law.

I have a Judgement in favour of MBNA for a very small amount and it will never be cleared as ill be in my grave.

[oscar]

Re: Bank of America Chester.

Has anyone seen the Yahoo! news this evening? It would appear that the future of the BoA operation in Chester (European credit card HQ) is in doubt with a possibility of 3500 job losses. They are pulling out of the UK credit card market due to huge losses. They are saying they bought the business in 2006 from MBNA.

Serves them right fo buying lemons!

Carrick on Shannon on notice as well.

regards
Garlok

Not just UK and Ireland, there is Spain as well. Number of losses will be more than 3500 as there are temporary stuff not taken into account with that number. They also have offices in London.

I doubt very much that Harrison has caused this. MBNA was seriously in trouble before BoA came in. Most "intelligent" people within MBNA (there are a few) could see this coming when BoA took over - which was actually 2005 (especially as they sold the buildings and then rented them back!!)

Most of the problems stem from the aquisition of Countrywide Financial in the US and the fact that AIG are suing them for $10bn. They are just trying to balance the books and get some liquidity.

I can see Garlok mentions most job losses will be in North Wales, but I dispute this. There are loads from various locations in Cheshire and Shropshire. Some even travel from Manchester!!

However, one part that is correct is with respect to the laws of the land. I have heard of payment plans being refused because they wont be completed in 10 years, which they need to be under American law, and they are an American company. (apparently so anyway!!)

[Lakeside1]

Re: Bank of America Chester.

It'll be interesting to see if it impacts how they deal with complaints and settlement offers etc.

[Never-In-Doubt]

Re: Bank of America Chester.

Yea. They can't keep records as it is. Imagine after migration

[Lakeside1]

Re: Bank of America Chester.

Any implications of this at individual debtor level?

[MattyA]

Re: Bank of America Chester.

They are Feckers - Good ridance.
As Garlok says - they cant cope with having to comply with the laws of OUR land.
Amex next?

[Never-In-Doubt]

Re: Bank of America Chester.

Sorry it was posted in a moderator section. Not publicly.

[pompeyfaith]

Re: Bank of America Chester.

Well if whoever buys it thinks they can increase my £20 a mth they can swing as there are no terms to increase in the judgement.

[pompeyfaith]

Re: Bank of America Chester.

http://www.guardian.co.uk/business/2...isk-uk-ireland

[garlok]

Re: Bank of America Chester.

Must have missed it on 5corpio's blog and news. I normally take a look first thing
Mrs G spotted it on Yahoo as it came up not long ago. Its quite pertinent round here because we are fighting the Local Development Plan here partially on the basis of no jobs or employment with wages high enough to buy the houses. They are saying that over half the job losses will be people in North Wales.

regards
Garlok

[garlok]

Re: Bank of America Chester.

I might venture to suggest that Paul's resounding success in the Harrison case has put them on the back foot and made 'em sit up and take note though. Particularly that we are no longer as consumers taking all their carp lying down.

Obviously theu don't like having to obey the law of this land.

I bet bloody Barclays greedy as ever will be circling the deathbed of a rival to see what they can pick off the bones.

regards
Garlok