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Thread: Citibank takes over Wachovia

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    Campaign Veteran skidmark's Avatar
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    After finding out that Citibank is going to take over all of Wachovia's banking operations
    http://www.nbc12.com/Global/story.as...;nav=menu128_1 I contacted Citibank to see how they will handle the lawful carry of firearms issue.

    Per Lauren at there 1-800 customer support number, who called a branch manager in Virginia (she did not say which branch), Citibank says as long as you comply with the state laws you can lawfully carry firearms in their branches in Virginia.:celebrate

    Does anybody have information or experience that is contrary to this?

    stay safe.

    skidmark
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    Moderator / Administrator Grapeshot's Avatar
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    skidmark wrote:
    After finding out that Citibank is going to take over all of Wachovia's banking operations
    http://www.nbc12.com/Global/story.as...;nav=menu128_1 I contacted Citibank to see how they will handle the lawful carry of firearms issue.

    Per Lauren at there 1-800 customer support number, who called a branch manager in Virginia (she did not say which branch), Citibank says as long as you comply with the state laws you can lawfully carry firearms in their branches in Virginia.:celebrate

    Does anybody have information or experience that is contrary to this?

    stay safe.

    skidmark
    I may copy this and deliver same with a big smile to every Wachovia branch within reach. (Jumps up and clicks heels!) Actually, I will wait for something more definitive.

    Yata hey
    You will not rise to the occasion; you will fall back on your level of training.” Archilochus, 650 BC

    Old and treacherous will beat young and skilled every time. Yata hey.

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    Accomplished Advocate peter nap's Avatar
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    skidmark wrote:
    After finding out that Citibank is going to take over all of Wachovia's banking operations
    http://www.nbc12.com/Global/story.as...;nav=menu128_1 I contacted Citibank to see how they will handle the lawful carry of firearms issue.

    Per Lauren at there 1-800 customer support number, who called a branch manager in Virginia (she did not say which branch), Citibank says as long as you comply with the state laws you can lawfully carry firearms in their branches in Virginia.:celebrate

    Does anybody have information or experience that is contrary to this?

    stay safe.

    skidmark
    I wish I had a reason to go in a Wachovia today. It would be enjoyable to tell them what the policy is NOW!

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    Founder's Club Member - Moderator ed's Avatar
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    they had their chance.. I closed a BIG account with them 2 years ago and they could not believe my reasoning.

    I love my USAA. COM bank!

    https://www.usaa.com/inet/ent_utils/..._checking_main


    Carry On.

    Ed

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    For VA Open Carry Cards send a S.A.2S.E. to: Ed's OC cards, Box 16143, Wash DC 20041-6143 (they are free but some folks enclose a couple bucks too)

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    Isn't Citibank/Citicorp the same organization that said they will no longer honor gun and gun-related purchases on their credit cards? If so, I don't trust them!

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    Campaign Veteran skidmark's Avatar
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    alnitak wrote:
    Isn't Citibank/Citicorp the same organization that said they will no longer honor gun and gun-related purchases on their credit cards? If so, I don't trust them!
    The had a hiccup with some on-line vendors that, AFAIK, has been resolved in favor of the vendors. Seems some pogue at Citi did not understand how on-line purchases were handled and (much like certain members of the Va Crime Commission) though the gun was sent directly from the seller to the purchaser. See:

    http://accurateshooter.wordpress.com...s-for-boycott/.

    stay safe.

    skidmark - soon to be totin' in the bank again
    "He'll regret it to his dying day....if ever he lives that long."----The Quiet Man

    Because stupidity isn't a race, and everybody can win.

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    Moderator / Administrator Grapeshot's Avatar
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    skidmark wrote:
    alnitak wrote:
    Isn't Citibank/Citicorp the same organization that said they will no longer honor gun and gun-related purchases on their credit cards? If so, I don't trust them!
    The had a hiccup with some on-line vendors that, AFAIK, has been resolved in favor of the vendors. Seems some pogue at Citi did not understand how on-line purchases were handled and (much like certain members of the Va Crime Commission) thought the gun was sent directly from the seller to the purchaser. See:

    http://accurateshooter.wordpress.com...s-for-boycott/.

    stay safe.

    skidmark - soon to be totin' in the bank again
    Cross your Ts and dot your Is ! It changes the meaning a bit.

    Yata hey
    You will not rise to the occasion; you will fall back on your level of training.” Archilochus, 650 BC

    Old and treacherous will beat young and skilled every time. Yata hey.

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    ed wrote:
    they had their chance.. I closed a BIG account with them 2 years ago and they could not believe my reasoning.
    Same here.



    I came into an inheritance, and they tried to talk me out of taking my money elsewhere.

    Same circular logic conversation:

    "It's for your safety."

    "I'm responsible for my own safety."

    It's for your safety."

    "Uh, you have had several armed robberies and still no security guards here that I see."

    "It's for your safety."

    "Goodbye."

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    Moderator / Administrator Grapeshot's Avatar
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    Glock27Bill wrote:
    ed wrote:
    they had their chance.. I closed a BIG account with them 2 years ago and they could not believe my reasoning.
    Same here.



    I came into an inheritance, and they tried to talk me out of taking my money elsewhere.

    Same circular logic conversation:

    "It's for your safety."

    "I'm responsible for my own safety."

    It's for your safety."

    "Uh, you have had several armed robberies and still no security guards here that I see."

    "It's for your safety."

    "Goodbye."
    Its all about their.......errr...your money. And both are safer now.

    Yata hey
    You will not rise to the occasion; you will fall back on your level of training.” Archilochus, 650 BC

    Old and treacherous will beat young and skilled every time. Yata hey.

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    ed wrote:
    they had their chance.. I closed a BIG account with them 2 years ago and they could not believe my reasoning.

    I love my USAA. COM bank!

    https://www.usaa.com/inet/ent_utils/..._checking_main
    + 1 - no branches to go to! I can OC at home to do my deposits!

  11. #11
    Moderator / Administrator Grapeshot's Avatar
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    Presuming everything goes as anticipated, I can't help but wonder if Wachovia/Citibank robberies will decrease as more and more OCers are visible in their branchs.

    We'll probably never know as crimes prevented are not crimes - duh.

    Yata hey
    You will not rise to the occasion; you will fall back on your level of training.” Archilochus, 650 BC

    Old and treacherous will beat young and skilled every time. Yata hey.

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    Regular Member paramedic70002's Avatar
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    I predict less bank robberies, but I feel for those idiots at BB&T. Now they are the only robber friendly banks in town.

    Oh and to the OP, don't stir the stink pot too much, they may go sheep on us and change their policy if they catch wind of this issue...
    "Each worker carried his sword strapped to his side." Nehemiah 4:18

    Guns Save Lives. Paramedics Save Lives. But...
    Paramedics With Guns Scare People!

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    paramedic70002 wrote:
    I predict less bank robberies, but I feel for those idiots at BB&T. Now they are the only robber friendly banks in town.

    Oh and to the OP, don't stir the stink pot too much, they may go sheep on us and change their policy if they catch wind of this issue...
    Citibank already has this policy in place we are told - they honor the state laws in which the branch is located. Will all former Wack-ovia now Citibank branch managers get the message right away? Maybe not, but isn't that our job?

    Stirring the pot is all right, if you know what is on the bottom . The OP has done his homework and politicing already. Sometimes its not what you know but who you know.

    Yata hey
    You will not rise to the occasion; you will fall back on your level of training.” Archilochus, 650 BC

    Old and treacherous will beat young and skilled every time. Yata hey.

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    Regular Member paramedic70002's Avatar
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    I supplied the first comment for this article...

    http://hamptonroads.com/2008/09/qa-w...uyout-mean-you

    Q&A: What does the Wachovia buyout mean to you?
    By Tom Shean
    The Virginian-Pilot
    © September 30, 2008 Wachovia has a major presence throughout Hampton Roads, and the agreement with Citigroup will affect deposits and loans with thousands of consumers.
    Q. Is my money safe?
    A. Yes. The Treasury Department and the Federal Deposit Insurance Corporation said that all Wachovia depositors will be protected. For Wachovia customers, the action on Monday “will ensure seamless continuity of service from their bank and full protection for all of their deposits,” FDIC Chairman Sheila Bair said in a statement. “There will be no interruption in services, and bank customers should expect business as usual.”
    Q. Do I have to do anything differently if I’m a customer of Wachovia Securities?
    A. No. “It’s business as usual,” said Christine Shaw, a Wachovia spokeswoman.
    Q. Why did federal regulators push for a sale of Wachovia Bank?
    A. Wachovia Bank did not fail, but tight credit conditions and the deterioration of its loan portfolio prompted mounting concern about its safety and soundness.
    Q. When will the sale be completed?
    A. Wachovia’s agreement with Citigroup still must be approved by Wachovia’s shareholders and by regulators. The transaction is expected to close before year’s end.
    Q. What happens to Wachovia Corp.?
    A. It will remain a publicly traded company and continue to own the brokerage subsidiary Wachovia Securities and Evergreen Asset Management.
    Q. How will Wachovia’s shareholders come out in the transaction?
    A. Most will see their holdings sharply reduced. They will receive about $1 of Citigroup common stock for each of their Wachovia shares. That’s down sharply from the $10 closing price for Wachovia’s shares on Friday.
    Q. How does the quality of Citigroup’s consumer banking compare with Wachovia’s?
    A. In its latest study of bank customer satisfaction, the marketing information service J.D. Power and Associates said that Wachovia had a 729 index in the mid-Atlantic region, a point ahead of the 728 for Citigroup’s Citibank subsidiary. Both fell below the average for the mid-Atlantic region of 730, according to the study, which was released in May. In the Southeast, Wachovia had an index of 747, which was slightly ahead of the 742 average for the region, J.D. Power said.


    Q&A Submitted by paramedic70002 on Mon, 09/29/2008 at 11:52 pm. Q: Will I still not be allowed into these banks while carrying a firearm?
    A: No. Citigroup complies with applicable state law. It is not illegal to carry a gun into a bank, therefore you will be allowed to carry your gun in these banks.


    "Each worker carried his sword strapped to his side." Nehemiah 4:18

    Guns Save Lives. Paramedics Save Lives. But...
    Paramedics With Guns Scare People!

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    paramedic70002 wrote:
    Q&A Submitted by paramedic70002 on Mon, 09/29/2008 at 11:52 pm. Q: Will I still not be allowed into these banks while carrying a firearm?
    A:
    No. Citigroup complies with applicable state law. It is not illegal to carry a gun into a bank, therefore you will be allowed to carry your gun in these banks.

    Confirms the information reported earlier. Thank you.

    Yata hey
    You will not rise to the occasion; you will fall back on your level of training.” Archilochus, 650 BC

    Old and treacherous will beat young and skilled every time. Yata hey.

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    paramedic70002 wrote:
    Q&A Submitted by paramedic70002 on Mon, 09/29/2008 at 11:52 pm. Q: Will I still not be allowed into these banks while carrying a firearm?
    A: No. Citigroup complies with applicable state law. It is not illegal to carry a gun into a bank, therefore you will be allowed to carry your gun in these banks.

    I went to the site, but noting indicated who answered the question.

    Was it Pilot On line or Citigroup?
    Revelation 1911 - And I saw heaven opened, and behold a white horse; and he that sat upon him was called Faithful and True, and in righteousness he doth judge and make war.

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    Not long after your question, a similar one was posted, with different, and obviously biased results...

    Q: Will you still not be Submitted by Vollie H on Tue, 09/30/2008 at 5:52 am. Q: Will you still not be allowed to carry your gun into the bank?
    A: Yes. Citigroup ,as with all businesses, reserves the right to deny you entry onto their property for any reason, let alone for carrying a gun.

    Find businesses that are pro gun...and those that aren't. Friend or Foe - Version 2 is online!

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    Moderator / Administrator Grapeshot's Avatar
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    bnkrazy wrote:
    Not long after your question, a similar one was posted, with different, and obviously biased results...

    Q: Will you still not be Submitted by Vollie H on Tue, 09/30/2008 at 5:52 am. Q: Will you still not be allowed to carry your gun into the bank?
    A: Yes. Citigroup ,as with all businesses, reserves the right to deny you entry onto their property for any reason, let alone for carrying a gun.
    This does not show any bias. They "reserve the right" to do what they want on their private property. This does not change the fact that Citibank honors the laws of the state where each branch is located. Q.E.D. person protection devices are OK in Va.

    I see where you asked a similarly worded question and received a a simple, clear, concise answer.

    Submitted by paramedic70002 on Mon, 09/29/2008 at 11:52 pm. Q: Will I still not be allowed into these banks while carrying a firearm?
    A: No. Citigroup complies with applicable state law. It is not illegal to carry a gun into a bank, therefore you will be allowed to carry your gun in these banks.

    Yata hey
    You will not rise to the occasion; you will fall back on your level of training.” Archilochus, 650 BC

    Old and treacherous will beat young and skilled every time. Yata hey.

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    Grapeshot wrote:
    bnkrazy wrote:
    Not long after your question, a similar one was posted, with different, and obviously biased results...

    Q: Will you still not be Submitted by Vollie H on Tue, 09/30/2008 at 5:52 am. Q: Will you still not be allowed to carry your gun into the bank?
    A: Yes. Citigroup ,as with all businesses, reserves the right to deny you entry onto their property for any reason, let alone for carrying a gun.
    This does not show any bias. They "reserve the right" to do what they want on their private property. This does not change the fact that Citibank honors the laws of the state where each branch is located. Q.E.D. person protection devices are OK in Va.

    Yata hey
    I wasn't suggesting Citibank had a bias, just that the way the answer was phrased, to me, seems biased. "Deny you entry onto their property for any reason, let alone for carrying a gun" to me implies the person writing this statement doesn't like guns. That's just how it came off to me. But, as mentioned, I don't even know if these are "official" responses from Citi, or if it is just the article author answering questions.

    I don't have a Wachovia account, so the point is moot for me.
    Find businesses that are pro gun...and those that aren't. Friend or Foe - Version 2 is online!

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    Looks like it might not happen, I just came across this article from Forbes.

    http://www.forbes.com/2008/10/03/wel...markets14.html

    Market Scan
    Wells Woos Wachovia Away From Citigroup
    Maurna Desmond, 10.03.08, 10:37 AM ET

    Wells Fargo joined the elite club of cash-rich and hungry banks when it proposed snapping up credit-crunched Wachovia for a song.

    Even as the congressional vote on the $700.0 billion financial bailout package loomed, San Francisco-based Wells Fargo (nyse: WFC - news - people ) announced that it will acquire troubled Wachovia (nyse: WB - news - people ), without any government help, in an all-stock transaction valued at $15.1 billion. The whirlwind wedding would appear to come as a surprise ending to Citigroup (nyse: C - news - people )’s brief courtship of the North Carolina-based thrift. (See "Citigroup Swallows Wachovia.") But Citigroup may yet challenge the deal, on the grounds that it had an exclusivity agreement.


    The Wells Fargo-Wachovia coupling follows a string of pairings between well-capitalized financial institutions and wobbly ones, as ordinary competitive pressures have been exacerbated by the financial crisis on Wall Street to create a market environment in which only the strong survive. (See "The Invisible Hand Shows Up.")

    Investors were delighted with the deal, which still needs Federal Reserve approval, pushing Wachovia up by 76.7%, or $2.99, to $6.90, during morning trading in New York. Usually shareholders flee from the buyer when an acquisition is announced, but Wall Street seemed to think that Wells Fargo had made a shrewd move, adding 6.9%, or $2.42, to $35.16, in trading at the open. Meanwhile, the failed suitor, Citi group, was spurned by investors as well, losing 14.0%, or $3.07, to $19.46.

    In the transaction, Wells Fargo will get all of Wachovia's businesses and obligations, including its preferred stock and debts. When JPMorgan Chase (nyse: JPM - news - people ) bought Washington Mutual for $2.2 billion last Friday, WaMu bondholders were not quite so lucky. (See "Once Again, JPMorgan Mops Up The Mess.") JPMorgan boss Jamie Dimon, who acquired troubled Bear Stearns for a fire-sale price in March, just waited until the thrift buckled to step in take the firm's best parts.

    Regulators are likely to be pleased with the match because this deal, unlike Citi's failed bid, did not involve any taxpayer liability. In the case of Citigroup's proposal, the Federal Deposit Insurance Corp. agreed to cover any losses beyond $42.0 billion on Wachovia's $312.0 billion loan portfolio, but the bank also said it would issue $12.0 billion in preferred stock and warrants to the FDIC.

    Wells Fargo said that integrating Wachovia will cost roughly $10.0 billion and that it intends to raise up to $20.0 billion, primarily by issuing new common stock. Wachovia has $2.2 million worth of shares outstanding.


    Wachovia shareholders will receive 0.1991 shares of Wells Fargo for every share of Wachovia stock they own, valuing Wachovia at about $7.00 per share--a hefty premium to Thursday’s close that quickly evaporated at the start of trading Friday.

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    Moderator / Administrator Grapeshot's Avatar
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    Looks like Wells Fargo is upsetting the apple cart. Will have to see how this plays out.

    Yata hey
    You will not rise to the occasion; you will fall back on your level of training.” Archilochus, 650 BC

    Old and treacherous will beat young and skilled every time. Yata hey.

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    Grapeshot wrote:
    Looks like Wells Fargo is upsetting the apple cart. Will have to see how this plays out.

    Yata hey
    Does anybody know if Wells Fargo is 2A friendly and allow carrying in their banks??

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    Sleepless wrote:
    Grapeshot wrote:
    Looks like Wells Fargo is upsetting the apple cart. Will have to see how this plays out.

    Yata hey
    Does anybody know if Wells Fargo is 2A friendly and allow carrying in their banks??
    Wells Fargo is headquarted in San Francisco, Ca.
    Have no idea yet what their position on 2nd Amend. is.
    Hope that they will honor the state laws in which the branch is located.

    The final inning hasn't been played in this ballgame though. Citibank is challanging Wells Fargo's offer and demanding that they withdraw it. CB is contending that they have an offer and acceptance - legalize for contract. There may be a legal battle over this before we know who wins the game.
    http://en.wikipedia.org/wiki/Wells_Fargo

    Yata hey
    You will not rise to the occasion; you will fall back on your level of training.” Archilochus, 650 BC

    Old and treacherous will beat young and skilled every time. Yata hey.

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    Grapeshot wrote:
    Sleepless wrote:
    Grapeshot wrote:
    Looks like Wells Fargo is upsetting the apple cart. Will have to see how this plays out.

    Yata hey
    Does anybody know if Wells Fargo is 2A friendly and allow carrying in their banks??
    Wells Fargo is headquarted in San Francisco, Ca.
    Have no idea yet what their position on 2nd Amend. is.
    Hope that they will honor the state laws in which the branch is located.

    The final inning hasn't been played in this ballgame though. Citibank is challanging Wells Fargo's offer and demanding that they withdraw it. CB is contending that they have an offer and acceptance - legalize for contract. There may be a legal battle over this before we know who wins the game.
    http://en.wikipedia.org/wiki/Wells_Fargo

    Yata hey
    But to my knowledge Wachovia stockholders haven't accepted the deal yet and they have the last say so we shall see what happens.

  25. #25
    Moderator / Administrator Grapeshot's Avatar
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    Citicorp is fighting mad and not ready to reliquish their position.

    http://tinyurl.com/4va6dp

    Yata hey

    Edit: More linky problems, you'll apparently have to copy & paste - sorry.
    You will not rise to the occasion; you will fall back on your level of training.” Archilochus, 650 BC

    Old and treacherous will beat young and skilled every time. Yata hey.

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