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Techies Asked To Train Foreign Replacements
Makarand writes "David Lazarus of the San Francisco Chronicle is reporting that Bank of America (BofA) is moving thousands of tech jobs to India and has asked its techies to train their Indian replacements or risk losing severance pay. Although there is nothing in writing that says precisely this, the employees have been made clear about this responsibility in their meetings. BofA is outsourcing tech work to Indian companies whose employees do the work at half the cost of what a U.S. worker gets paid. According to an estimate, outsourcing has allowed the bank to save about $100 million over the past five years."
Any time they place a 5-day hold on a Government check, get the branch manager to take
the thing right off as soon as you see it.
It's in violation of Federal Depository Regulations (The one that governs check cashing, etc.) to place a hold
on a Government check- per the regulations, they are to be treated as if the check was a CASH
transaction.
It's a violation of Federal law for them to do it and any fees incurred by this hold are due back to you
including any fees the people you pay end up charging you, etc. I've had BofA branch managers stand toe
to toe with me on that one, only to back down when shown a copy of the actual regs from the Fed website.
They know the regs, even going so far as to being balsy enough to try to palm off things that aren't in
the regs as being "per Federal Depository Regulations"- and I've had to jam it down their throats
repeatedly. Again, it's a good thing I'm shifting my banking elsewhere; this BS is just one more good
reason.
I am not merely a "consumer" or a "taxpayer". I am a Citizen of the State of Texas
I have an account with BofA as of this coming Monday; I'm closing my account and moving my money to a smaller local bank. I ask that other BofA account holders do the same. The only way to stop this out sourcing of American jobs is to boycott the source.