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| 03:44 AM | ||
| Users Online Now: 1,094 (Who's On?) | Visitors Today: 215,496 | |
| Pageviews Today: 332,120 | Threads Today: 134 | Posts Today: 1,857 |
| 03:44 AM | ||
A Bank in Midtown Manhattan Is Cleaned Out of $100 Bills | |
| Looming Bank Run User ID: 78620701  France03/15/2020 01:17 PM Report Abusive Post Report Copyright Violation | March 14, 2020 As the stock market was having its worst day in 30 years on Thursday, customers at a Bank of America branch in Midtown Manhattan, the financial heart of New York, were lining up to take cash out of their accounts — sometimes tens of thousands of dollars at a time. So many people sought huge sums that the bank branch, at 52nd Street and Park Avenue, temporarily ran out of $100 bills to fulfill large withdrawals, according to three people familiar with the branch’s operations. The shortage hit after a rash of requests for as much as $50,000, said two people who witnessed the rush. The problem was limited to large bills — the bank’s A.T.M.s stayed stocked and customers with routine transactions were still able to take out cash. By Friday morning, the bank had refilled its supply of big bills, two of the people said. But the desire for cash persisted: A teller at a JPMorgan Chase branch across the street said on Friday that there had been a “nonstop” stream of customers stockpiling cash over the past two days. [link to www.nytimes.com (secure)]  |
