The High Road: There’s nothing like our banks

A savvy friend of mine who owns a real estate brokerage in Westchester County called me the other day to vent his feeling about TD Bank.

Also a lawyer, “Neal” had responded to a direct appeal that offered him an incredibly low rate for a Home Equity Line of Credit, or HELOC.  It indicated that his credit score was in the enviable 800s.  (“Neal” asked that I refrain from identifying him.)

All he had to do, the mailing proclaimed, was furnish documentation and wait for a response from TD’s loan headquarters in Mt. Laurel, N.J.

He received a response, all right: Continue reading

Do we really need yet another bank branch?

TD Bank at 258 Broadway

TD Bank, which bills itself with a registered trademark as “America’s Most Convenient Bank,” has more than 1,000 locations from Maine to Florida.

Now it plans to open three more branches in Manhattan–at 1240 First Avenue, 919 Second Avenue and 122 Greenwich Avenue.

Don’t like this idea? Write by Jan. 20 to J. Greg Parvin, director of district licensing, Office of the Comptroller of the Currency, 340 Madison Avenue, 5th Floor, New York, NY 10173.

Based in Portland, Maine, the financial institution purchased Commerce Bank two years ago.  It claims to serve more than 6.5 million Customers in Connecticut, Delaware, the District of Columbia, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Vermont and Virginia.

Perhaps the plan to open more branches is a sign of economic life in the Big Apple.  Perhaps it’s just hubris.  In any case, when is enough enough?  Now?

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Malcolm Carter
Licensed Associate Real Estate Broker
Senior Vice President
Charles Rutenberg Realty
127 E. 56th Street
New York, NY 10022

M: 347-886-0248
F: 347-438-3201
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