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Bounced Checks

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BUSINESS
By JANE BRYANT QUINN | February 27, 1995
NEW YORK -- What's the single most hated bank fee in America? I'd guess it's the fee known in bank parlance as "deposit item returned" (DIR) and in English as something unprintable.You may pay a DIR when you get a check, deposit it, then learn it bounced. You're entirely blameless; you had no idea that the check wouldn't clear. Nevertheless, the bank nicks you for an average of $4.75 to $7.50, with some banks going as high as $10 (large banks charge more than small ones).Five years ago, about two-thirds of the banks were charging DIRs on individual accounts, according to the American Bankers Association.
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SPORTS
By Edward Lee | edward.lee@baltsun.com | February 21, 2010
Any loss is disappointing, but the way the UMBC men's lacrosse team fell Saturday was deflating. A forced turnover caromed off a Retrievers player's stick and rolled into the net to lift No. 20 Delaware to an 11-10 win over No. 17 UMBC with 1:07 left in the third overtime at UMBC Stadium. The fluke play began with Blue Hens senior attackman Curtis Dickson matching up against senior midfielder Maxx Davis on the left wing. As Dickson ran toward the slot, Davis checked the ball out of Dickson's stick.
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BUSINESS
By Gregory Karp | July 17, 2005
Many consumers are more likely than ever to overdraw their checking accounts and needlessly pay exorbitant fees and penalties. When a bank customer's account is empty, the bank will cover a check, ATM withdrawal or debit card transaction without warning or notice. Then when the customer makes a deposit, the bank takes back the overdrawn money plus a fee - typically $20 to $35. Worse, it's a "service" the customer never requested, but some banks automatically attach it to accounts. Many consumers would be better off if the bank just rejected the withdrawal request when there was not enough money in the account.
NEWS
December 5, 2009
ROCKVILLE - The Virginia couple at the center of last week's White House security breach is now accused of bouncing a nearly $24,000 check for liquor purchased in Maryland. The Montgomery County government, which conducts all the wholesale liquor sales on its territory, filed a lawsuit Thursday against Michaele and Tareq Salahi, the couple who got into a state dinner last week without an invitation. The Salahis purchased wine and beer for America's Polo Cup World Championship, a charity polo event they held in the county in May. According to documents, the couple returned more than $10,000 worth of merchandise, but they still owe more than $13,000.
NEWS
March 12, 1992
The House of Representives' Ethics Committee voted last week to disclose the names of the worst offenders who have bounced checks at the House bank.The worst were considered to be 19 current and five former House members who bounced checks over a 39-month period ending last October. The top check-kiter wrote about 900 hot checks.The House Republican Conference wants to go further and is pushing a resolution to reveal the names of all 296 members who bounced at least one check.The Evening Sun would like to know what you think.
NEWS
By Tom Bowman and Tom Bowman,Washington Bureau | March 12, 1992
WASHINGTON -- One hundred House members bounced at least 45 checks at the House bank during the past three years, while another 133 lawmakers had five or fewer overdrafts, according to a House Ethics Committee report.The top abuser of the bank wrote 996 bad checks between July 1, 1988, and Oct. 3, 1991. That amounts to about one bad check per business day for more than three years.Even the official responsible for the bank, House Sergeant-at-Arms Jack Russ, bounced 19 checks drawn on other banks with a total value of $56,100.
NEWS
By a Sun Staff Writer | April 30, 1995
The Washington Times has filed suit against the now-defunct Columbia Daily Tribune for unpaid printing bills it says totals $57,572.Filed in Howard Circuit Court April 20, the suit also names as a defendant Columbia management consultant John K. Keller. He helped start the newspaper, which operated three months and ceased publication in January.The newspaper's founder, Edward G. Pickett, was not named in the suit, which contends that the paper failed to pay its printing bills and bounced checks worth hundreds of dollars from Oct. 10 to Jan. 31.Mr.
NEWS
By THEO LIPPMAN JR | March 26, 1992
A NATIONAL POLL asked voters, "If your representative repeatedly bounced checks, how would that affect your vote?"One percent answered that they would be "somewhat more likely to vote for" the repeated check bouncer! Four percent said they would be "strongly more likely to vote for" the repeated check bouncer!!Seem strange to you? Did to me. Then I got a press release from my congressman detailing his 12 bounced checks. I would classify 12 as "repeated." But after looking the list over, I decided that I probably would be at least "somewhat more" and maybe even "strongly more" likely to vote for him.My representative is Kweisi Mfume.
NEWS
September 25, 1992
COMMENTARY from The Economist of London:"The American presidential election is turning into a fairground contest of conjurers. Here stands George Bush with a tray of treats before him, tossing out $1 billion in wheat subsidies for the mid-west and $6 billion in aircraft contracts for Texas."There stands Bill Clinton, showing even with empty hands that he is eager to do the same. And meanwhile, in the neon-lit arcades of Congress, men who had promised to stop feeding dimes into the machines are tinkering them to life.
NEWS
By Michael Ollove | November 2, 1990
Turned out prettily in their green and brown uniforms, thousands of Girl Scouts and Brownies are taking to the Maryland streets this week to deliver their Girl Scout cookies. They will smile sweetly, greet you graciously and demand cash on the barrelhead.Cookie sales are intended to teach youngsters the rudiments of business, marketing and public relations. Now the scouts are learning about deadbeats as well.Stuck with nearly $24,000 in bounced checks from its cookie sales last year, the Girl Scout Council of Central Maryland instructed its troops not to accept personal checks during this fall's sales.
NEWS
By John-John Williams IV and John-John Williams IV,john-john.williams@baltsun.com | August 16, 2009
The Howard County School System has implemented a new program to collect on insufficient-funds checks. On Aug. 1, the school system started using the Federal Automated Recovery Systems for the electronic collection of checks. Officials said the new system will allow for a higher rate of recovery at no additional cost to the school system. The school system receives more than 800 insufficient-funds checks each year, according to Howard County officials. The process of collecting the checks is an "arduous task," according to Beverly Davis, the school system's director of finance.
BUSINESS
By Gregory Karp | July 17, 2005
Many consumers are more likely than ever to overdraw their checking accounts and needlessly pay exorbitant fees and penalties. When a bank customer's account is empty, the bank will cover a check, ATM withdrawal or debit card transaction without warning or notice. Then when the customer makes a deposit, the bank takes back the overdrawn money plus a fee - typically $20 to $35. Worse, it's a "service" the customer never requested, but some banks automatically attach it to accounts. Many consumers would be better off if the bank just rejected the withdrawal request when there was not enough money in the account.
BUSINESS
By Eileen Ambrose and Eileen Ambrose,SUN STAFF | October 27, 2004
Beginning tomorrow, a new law will make it possible for checks to be cleared days faster than they are now, which could mean bounced checks for consumers if they're not careful. Banks now need the original check in hand before withdrawing money from a customer's account. That requires paper checks to be physically transported between banks, which sometimes takes up to five days when checks are being flown across the country. The Check Clearing for the 21st Century Act, or Check 21, paves the way for banks to electronically transmit checks and do away with the travel time.
SPORTS
By Phil Rogers and Phil Rogers,CHICAGO TRIBUNE | July 11, 2002
Twenty-five major-league players soon may realize baseball's claim of financial distress is more than bargaining rhetoric. According to a highly placed Major League Baseball source, the Tampa Bay Devil Rays are one of two teams experiencing severe cash-flow problems. But it is the other team, which the source did not identify, that is trying to solve an imminent crisis. That team could bounce paychecks to players on Monday, according to the source. Commissioner Bud Selig declined to discuss the finances of individual teams but confirmed MLB is discussing contingency plans in the event teams become financially insolvent during midseason.
BUSINESS
By Robert Nusgart and Robert Nusgart,SUN STAFF | September 13, 2000
The Maryland operations of a Long Island-based Internet mortgage company have been shut down by state regulators after it was discovered that the company had failed to provide approximately $1 million to borrowers who had paid upfront fees and gone to settlement. Apponline.com Inc., which also did business as Island Mortgage Network Inc. and Reliance Mortgage Network, was given a final "cease-and-desist" order yesterday by Maryland Commissioner of Financial Regulation Mary Louise Preis.
NEWS
By Del Quentin Wilber and Del Quentin Wilber,SUN STAFF | July 14, 1999
Howard County prosecutors said yesterday they are planning to review cases in which time-consuming arrest warrants were issued for people who bounced checks yet repaid their debts.That action occurs after a 35-year-old nurse was arrested in May on a charge of writing a bad check to the Columbia Association -- five months after paying the money. Another Columbia woman learned Friday that she was wanted on the same charge though she, too, repaid her debt.Five other people are wanted on charges of passing bad checks to businesses in Howard County and to CA. They say they paid the money or that repayment was confirmed.
NEWS
By Tom Bowman and Tom Bowman,Washington Bureau | March 11, 1992
WASHINGTON -- House Republicans today will consider a move to release the names of all lawmakers who bounced checks at the House bank, setting up a political fight with Democrats who support a limited disclosure that includes the most serious offenders.Rep. Jerry Lewis of California, chairman of the Republican Conference, will ask fellow GOP lawmakers to approve his measure, which would reveal the names of all 296 current members who bounced at least one check."I think our members lean in the direction of full disclosure," said Mr. Lewis, following a meeting with House Minority Leader Robert H. Michel of Illinois and other Republican leaders.
NEWS
By John-John Williams IV and John-John Williams IV,john-john.williams@baltsun.com | August 16, 2009
The Howard County School System has implemented a new program to collect on insufficient-funds checks. On Aug. 1, the school system started using the Federal Automated Recovery Systems for the electronic collection of checks. Officials said the new system will allow for a higher rate of recovery at no additional cost to the school system. The school system receives more than 800 insufficient-funds checks each year, according to Howard County officials. The process of collecting the checks is an "arduous task," according to Beverly Davis, the school system's director of finance.
BUSINESS
By Sean Somerville and Sean Somerville,SUN STAFF | April 16, 1999
Coleman Craten LLC, the downtown brokerage and financial club that already is fighting a $431,000 suit filed by Charles Schwab, also faces allegations that Monica L. Coleman, a co-founder, defrauded a Howard County couple of nearly $800,000.Jean K. Aziz and Dr. Shahid Aziz contend in a lawsuit filed in Baltimore County Circuit Court that Coleman persuaded the couple to invest in a "family office" business that would offer wealthy investors "one-stop shopping" for a range of financial and professional services.
NEWS
By Kate Shatzkin and Kate Shatzkin,SUN STAFF | September 7, 1996
It all started when a group of hungry securities brokers couldn't get their fajitas fast enough.Then the tiff between local restaurant owner Patrick McCusker and Prudential Securities expanded into a swollen court file, filled with claims of $50.9 million worth of alleged harm over an account Prudential is alleged to have closed because its manager missed dinner.Yesterday, a Baltimore Circuit judge told McCusker he'd have to settle his beef with Prudential in arbitration, without the help of a judge or jury.
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