Citigroup Warns Re $ Withdrawal Refusal

I thought this was interesting and ATS worthy

The image of banks locking their doors to keep customers from making withdrawals during a bank run is what immediately came to mind when we heard that Citigroup was telling customers it has the right to prevent any withdrawals from checking accounts for seven days.

It's not breaking news since it came out on Friday it looks like. And doesn't take place till April 1 (maybe it's april fools joke - those silly banker boys - so funny!)

"Effective April 1, 2010, we reserve the right to require (7) days advance notice before permitting a withdrawal from all checking accounts. While we do not currently exercise this right and have not exercised it in the past, we are required by law to notify you of this change," Citigroup said on statements received by customers all over the country.

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