Bond payment on 9/15/07
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Ben Gillespie - Payment 9/15
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"Smith, Antoinette plI
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10/31/2007 9:20 AM
Payment 9/15
Hello Ben,
We received the funds from US Bank and posted to the City's loan as of 9-15-07. The loan is now current.
We certainly want to apologize for the misencoding error and the trouble you went through. The adjustment would
have been handled differently had we known about the discrepancy sooner. If you ever choose to authorize an
auto debit to your US Bank account for the quarterly payment, please let me know.
Thank you!!
Toni Smith
Sr. Credit Support Associate
Bank of America -OR1-129-17-15
121 SW Morrison St. Suite 1700
Portland, OR 97204
ph: 503.279.2532 fax: 866.773.4192
October 3, 2007
We pay $56,933.07 of debt service quarterly t ~. On Sept
7 we issued a check for $56,933.07. When the Check was posted to our bank account it was
recorded as $5,933.07. Whoever keyed the check omitted the "6." When Vee caught it, she
called our bank (U S) and the local branch ofB of A. She talked to Stephanie Parker, who
insisted that a signer on the account would have to come to the branch to clear it up. I drove
over. First she said that it was US's fault, because they keyed the amount on the check. I am not
an expert on banking, but my understanding was that the bank of the payee keyed the amount.
Then she seemed confused about the dollar amount, saying that the difference was $6,000. It is
$51,000. She said that B of A had credited our loan for the correct amount and that I would have
to contact U S to get the situation corrected. I asked her to verify that the loan account had been
debited (in bank parlance) for $56,933.07. She said "yes." I told her as far as I was concerned
the matter was finished, because U S said they would take care of what needed to be done on
their end. Stephanie seemed not at all concerned that her bank was $51,000 short. He focus was
on the process, and it seemed he first concern was not having to do anything with this transaction.
file://C:\Documents and Settings\bengi\Local Settings\Temp\XPgrpwise\472848E3Prima... 10/31/2007