Stop Whining And Post A %#$*& Sign!

I suppose I'd be more sympathetic to banks that complain about plaintiffs who cruise bank branches, seeking ATMs that don't post the signs required by the Electronic Funds Transfer Act, and then sue banks for violating that particular requirement portion of the EFTA, if (A) the law hadn't been around for a decade and/or (B) plaintiffs or their attorneys were ripping off the signs when no one was looking, then suing the bank for not having a sign. The latter might be the case in a few instances, but I doubt any bank that actually posted the sign wouldn't prefer to get into a swearing contest before a judge than they would merely roll over and pay off the leaches who would pull such a stunt. No, I think in most cases, the banks have simply failed to comply with a basic requirement of applicable law.

We can debate the merits of giving private citizens, like the retired couple of Robin Hoods who are featured in the linked story, the right to squeeze money out of banks when the plaintiffs haven't been misled or otherwise personally harmed. However, a private right of action is provided by the law for just this purpose: to arm private citizens with the ammo they need to force banks to comply with the law. With all the other matters they have on their plates at the moment, I'm sure state and Federal law enforcement and bank regulatory agencies are happy to leave the harassment of banks to roaming legions of do-gooders without portfolio.

Bank counsels' complaint that these lawsuits amount to a nuisance may be correct. The law intends them to be a nusisance. They're intended to change behavior. If you don't like the nuisance, you've got a choice: change the law or comply with it. The latter seems to me make the most sense, and is certainly the most cost-effective course of action, but what doesn't make sense is to complain that there's something unfair about private citizens doing just what the law intended them to do.

In this case, I have to agree with the anti-bankers. As a modification of PJ O'Rourkes Memo to Gen X, I'd tell complaining banks to pull up their pants, turn their hats around, and get a sign.