AboutJim Meadows Expertise I can respond to most questions concerning consumer and business relationships with US financial institutions. My expertise touches on deposit and loan issues and particularly on strategies to navigate through bank policies personell and practices. I have a degree in Economics, attended law school, Graduate Shool of Banking, and Commercial Lending and Compliance Schools.
Experience I have twenty years experience as a bank CEO. Most of those years were spent operating a bank focused primarly on serving consumer/retail needs. I helped pioneer deposit and loan products for low/moderate income individuals. I currently serve on multiple bank boards and am Chairman of a Commercial Bank in Atlanta.
I would like to ask what is exactly a segregated account in bank? If a company claim that clients' money is deposited in a segregated account which company cannot use it as expenses. How is this work. Is money in a segregated account really can't be stolen/moved/manipulated by the company? Thank you in advance.
Regards,
Tom
Answer Tom, even though the company might segregate the funds, it just means that the company has an intent to not use those funds for other purposes. The company however, has control over the funds and technically, if not ehtically or legally, can use the funds otherwise. Jim
