Word: overdrafted
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...opinion or read LaBelle's book This Too Shall Pass. In a silky Southern voice, Defense Attorney Nickolas P. Chilivis asked jury candidates if they had had satisfactory or unsatisfactory experiences with banks, if they had ever applied for a loan, if they had ever had an overdraft. Asked whether she had heard anything about the case, Bookkeeper Rebekah M. Bartlett, 61, replied, "I'm sure we all have unless we've been out of the country...
Powell said Carter did not know of the overdraft at the National Bank of Georgia--formerly headed by Bert Lance, the one-time budget director who resigned that post after allegations of security fraud in the fall of 1977--until two bank directors disclosed the discrepancy on Wednesday...
Lindsey Hopkins and Church Yearley, the two directors, revealed the overdraft as part of a report on Lance's affairs that was required by the Securities and Exchange Commission. Hopkins and Yearley said, however, they believe the overdraft occurred because the bank was at that time inexperienced in its method of recording loans...
...Roth compared this reasoning to the rationale "of a person who goes through a red light and says nobody was hurt so my going through was all right." Lance could not satisfactorily explain to Ribicoff why he had written a letter to federal bank examiners in 1973 saying his overdraft problem would be corrected and why he had failed to heed the criticism of bank examiners who found that the overdraft situation was "abusive" and "the age and size of the overdrafts is appalling." Instead, the collective overdrafts by Lance and his relatives increased until the Comptroller of the Currency...
...forbidding any bank officer to get a loan of more than $5,000 from his own bank for his personal expenses. A federal examiner in 1971 and Comptroller Heimann this year both reported that Lance had been technically in violation of this civil statute, since an overdraft is, in effect, a loan. Maryland Republican Charles Mathias Jr., mixing metaphors, termed the practice of letting Lance's campaign committee "write rubber checks that wouldn't bounce, like the goose that lays the golden...