Problems with Peoples Federal Savings Bank in Brighton, MA

[Jonathan Kamens]

For almost six months, I've been fighting with Peoples Federal Savings
Bank, which is headquartered in Brighton, MA, to get them to
acknowledge that they seriously screwed up their computer upgrade in
June, including miscalculating interest payments on some accounts for
that month. They have been evasive (ignoring my letters, claiming that
the problems had been fixed when they hadn't, etc.) from the start, and
they still haven't acknowledged that any interest payments were
miscalculated, admitted how many accounts were affected by the error,
or explained what they've done to fix the error in all affected
accounts.

I finally got fed up enough with trying to deal with them directly that
I took it to the next level -- I've complained to several newspapers
and regulatory agencies asking them to investigate.

I also put the whole story on-line, for anybody who's interested in
it. See <URL:http://www.mit.edu/~jik/pfsb_problem/>.

If you have an account at Peoples, it would probably be in your best
interest to visit the Web page mentioned above.

[Jonathan Kamens]

Well, it took five months of letters and contacting the local news
media and several regulatory agencies, but I finally got Peoples to
explain why their interest calculations for June 2001 differed from
mine. They offered a satisfactory explanation. That, of course,
doesn't change the fact that they stonewalled me for five months and
caused me all sorts of other grief when they "upgraded" their computer
systems in June. I'll still be finding myself another bank, but I
thought that I should post here and let people know that at least they
got the interest calculations right.

See
<URL:http://www.mit.edu/~jik/pfsb_problem/20-20011221-from-cgaffney.gif>
for the letter in which they finally explained their interst
calculations, or <URL:http://www.mit.edu/~jik/pfsb_problem/> for the
whole story, including this latest installment.

[Michael Zarlenga]

Jonathan Kamens <j...@kamens.brookline.ma.us> wrote:
: See
: <URL:http://www.mit.edu/~jik/pfsb_problem/20-20011221-from-cgaffney.gif>

So, let's see, one day's interest is what you felt you we cheated,
and for that you raised this stink?

You're a real beauty, Johnathan. I hope your bank bills you for the
time it took to inmvestigate this and to write you that letter.

--
-- Mike Zarlenga