IndyMac Cashier's Checks Rejected Banks "Holding" IndyMac Cashier Checks | News | News And Video | KTLA - Los Angeles CW Source | Covering Los Angeles News and Entertainment and showing the hottest LA Video | KTLA The CW | Where LA Lives
"LOS ANGELES -- The aggravation continues for some already frustrated IndyMac customers who are trying to deposit their money at other banks.
Nervous customers flooded Southern California IndyMac branches this week after the failing institution reopened under federal control as IndyMac Federal Bank, FSB. Some camped out overnight and waited for several hours just to retrieve their money.
Now, some of those customers say they're having difficulty depositing their IndyMac cashier checks.
Sheryl MacPhee said she waited in line two hours Tuesday at an IndyMac branch in San Marino to liquidate a certificate of deposit.
But when she took it to a Washington Mutual branch in South Pasadena to deposit, she said a manager told her their new policy was not to accept IndyMac checks."
------------------------------------
Fractional reserve banking is a scam.