TD Bank: the Criminal Enterprise Targets Philadelphia Arts
I’ve written extensively about the criminal enterprise known as TD Bank, from the way they deliberately distorted their automatic payment system in order to wring late fees from homeowners while damaging their credit, to the way they participate in a program designed to provide loans to low/moderate-income households with bruised credit but set it up in such a way that the population they serve never gets loans, to the way TD Bank lost Philadelphia customers’ money for a week after they took over Commerce: the list is shockingly long and disgraceful, a catalog of pure evil, crime, and outright theft.
Well, they’re back at it again: this time TD Bank is attacking Philadelphia’s arts and culture.
Just one week before the 19th annual Philadelphia Film Festival is set to begin, one of its theaters has filed for bankruptcy. For years, the Prince Theater on Chestnut Street has been fighting its mortgage lender to stave off foreclosure. But festival organizers vow the show will go on.
TD Bank claims the Prince Theater is delinquent on mortgage payments. The theater owners claim they had arranged a payment plan with Commerce Bank. However, as the new owner of Commerce, TD Bank is not honoring that agreement.
TD Bank has tried to foreclose on the theater four times. In the past, the theater has fought the bank with lender liability suits. Bankruptcy is its latest effort.
Now, while I don’t know a lot about the Prince’s economic problems, I’m quite familiar with TD Bank’s decisions “not honoring that agreement”. This is the same bank that partnered with the city to offer home improvement loans to low/moderate income families with bruised credit, but then puts them through the same automated credit score system that applies to customers with pristine credit, ensuring that poor people won’t get loans. This is the same bank that did away with the two-week grace period that characterized Commerce Bank’s automatic payment system, changing a convenient “set-it-and-forget-it” system to one that ganks customers for $35.00 fees. The same bank that’s getting sued for excessive overdraft fees, for investing with Alan Stanford, for ripping people off on gift cards.
It’s TD Bank: ripping people off is what they do best, and now they’re coming for the Prince Music Theatre.
That’s why I took my money out of TD Bank and moved it to the Philadelphia Federal Credit Union, which is not run by and for crooks.
Don’t bank with TD: they rip off their customers and they rip off Philadelphia.
