Letter from Bart Daley to all of his business associates in the mortgage industry and beyond detailing the cancellation of his business account by Suntrust Bank.
Letter from Bart Daley to all of his business associates in the mortgage industry and beyond detailing the cancellation of his business account by Suntrust Bank.
Letter from Bart Daley to all of his business associates in the mortgage industry and beyond detailing the cancellation of his business account by Suntrust Bank.
Letter from Bart Daley to all of his business associates in the mortgage industry and beyond detailing the cancellation of his business account by Suntrust Bank.
I wanted to take a moment to make you aware of a deeply flawed and extremely troubling decision by SunTrust Bank. In response to the tragic shootings last week in California, I made the difficult decision to arm members of my management team to provide a level of defense for our employees against the current rash of violent extremism that has ravaged our communities. I reasonably assumed that this exercise of my constitutionallyprotected 2nd Ammendment right would be of no interest to SunTrust Bank, the issuer of the card that I chose to pay for the firearm purchased. Unfortunately, that assumption was incorrect. While attempting to pay our liability insurance premium, my card was declined. Upon contacting SunTrust to inquire as to the nature of the issue, I was informed that "pursuant to the terms and conditions of your account agreement, recent purchase activity was reviewed and determined to be unacceptable and as such, SunTrust has chosen to end our relationship and the proceeds from your accounts will be mailed to you within 30 days." Attempting to uncover what exactly I had purchase that was so objectionable, I immediately visited the nearest branch where I was informed that my purchase at Shooter's World, a local Tampa-area firearms retailer, was not an acceptable purchase and had triggered, pardon the pun, the account closure. When I advised them of the circumstances surrounding last week's tragedy and my constitutionally protected right to own and posess a firearm, I was advised that no, that was not really the reason, it was instead the $1.49 RedBox transaction on Thanksgiving Day. Upon highlighting the lunacy of this situation I was informed that it was a final decision and my funds would be mailed to me at some date in the future. Now as a reasonable person, I understand that not everyone believes that firearms should be available to the general public and while I respect their right to hold this belief, the Constitution clearly favors my position. Nevertheless, in no way should my legal ownership and possession of a firearm interfere with my banking relationships. I did not bring said firearms to the bank so they should have no logical reason to hold that such a purchase warrants such a draconian reaction. Moreover, they have frozen access to all manner of accounts that I held and in a violent market downheaval as well. This action is completely unacceptable and I would ask that any client that respects the rights granted to us under the Constitution avoid any and all manner of business with SunTrust Bank, whether as a depository or through their correspondent mortgage channel. SunTrust clearly continues to deserve the relegation to that of an afterthought in the banking and finance world and has no business allowing such issues to affect the transaction of normal commerce based upon individual beliefs.