Subway charges woman over $1,000 for sandwich. She finally gets refund nearly 2 months later — but her problems aren't over.



While an Ohio Subway customer finally received a refund after she was charged over $1,000 for sandwich nearly two months ago, Letitia Bishop's problems aren't over yet.

What are the details?

This financially nightmarish tale began Jan. 5 when Bishop stopped in a Subway that was part of the Thorntons Oil store in Columbus, Business Insider said.

She soon learned that her debit card was charged to the tune of $1,021.50 for her sandwich purchase, according to WSYX-TV.

When Bishop went back to the store to resolve the issue, it had closed down, the station said. Her numerous attempts to resolve the issue through Subway's corporate office were unsuccessful, as WSYX said she was unable to speak to anyone who could help her.

Bishop told the station, "I’m just trying to make ends meet at this point. Stressed, overwhelmed — I couldn’t get groceries at one point because my account was negative.”

Business Insider said it conducted an interview with Bishop, and she said her financial situation has been more dire due to raising two young children on a social worker's salary. In fact, she told the outlet she was forced to prioritize bill payments while living off of credit cards.

"It was very difficult," she told Business Insider. "I have never had to feel like we're going to have just to get spaghetti, and that's going to be that."

Finally, a break — but not quite

The outlet said after Bishop filed a complaint with the Better Business Bureau in Connecticut — where Subway's headquarters is located — she got her refund over the weekend from the regional manager of Thorntons, which apparently owns the Subway franchise that was part of the store.

Interestingly, Bishop told Business Insider that the regional manager said Thorntons had never used an online portal for issuing the refund, so the preference was to give her cash in person at the gas station.

"She basically counted all this money," Bishop told the outlet, adding that the regional manager "gave us this cash and made us sign a copy of this receipt."

On a positive note, she added to Business Insider that she also was offered free dinners once a week for eight weeks at a new restaurant the Thorntons chain was opening.

But there was another negative development.

More from the outlet:

Despite the resolution, Bishop faced another hurdle when depositing the cash at her local Huntington Bank branch. She said the funds were placed on hold, meaning she couldn't access them to settle her outstanding bills.

"I just honestly don't have the emotional space to deal with this because literally it's stressing me out so much," she added to Business Insider.

The outlet reported that Thorntons, Subway, and Huntington Bank did not immediately respond to its requests for comment.

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Former Dallas Fed head warns the US regional banking crisis is 'more serious than we currently understand'



There have been three major bank failures so far this year, and some experts claim the carnage may not yet be at an end.

Former Federal Reserve Bank of Dallas President Robert Kaplan told Bloomberg Television this week that he thinks "the banking situation may well be more serious than we currently understand."

Silicon Valley Bank collapsed in March, marking the second-largest bank failure in U.S. history. Signature Bank, which had $110 billion in assets at the end of 2022, making it the 29th largest U.S. bank at the time, failed shortly thereafter.

Americans have pulled nearly $100 billion out of banks since, according to Fox Business.

Biden Treasury Secretary Janet Yellen claimed in mid-March that the "banking system is sound." However, just weeks later, First Republic Bank, which had assets over $200 billion and catered to wealthy elites, similarly failed.

First Republic's demise represented the second-largest banking failure in American history, trailing the 2008 collapse of Washington Mutual.

Over the weekend, regulators seized First Republic and sold the bank's deposits and a "substantial majority of assets" to JPMorgan Chase, the largest U.S. bank. JPMorgan similarly absorbed Washington Mutual after its collapse.

Echoing Yellen's March claim, JPMorgan Chase CEO Jamie Dimon suggested Monday that the primary phase of the regional bank crisis was "over," reported the Guardian.

"There may be another smaller one, but this pretty much resolves them all," Dimon said. "This part of the crisis is over."

Tomasz Piskorski, a professor of real estate in the finance division at Columbia University, told Bloomberg, "There are a lot of signs telling us the U.S. banking system is in distress. ... We might want to close our eyes and pretend nothing’s happened, but the signs are already there."

CNBC reported that bank stocks fell dramatically Tuesday, in part because confidence remains shaken and pressure on the sector continues to build.

For instance, shares of the California-based PacWest Bancorp fell nearly 28% on Tuesday. The stock was halted for volatility on a number of occasions.

Shares of Western Alliance bank dropped 15%.

The SPDR S&P Regional Banking ETF fell 6.3%.

\u201cBREAKING: US Banking Crisis - Bank Shares Plummet \n\nShares of major U.S. regional banks fell further on Tuesday in the aftermath of the collapse of First Republic Bank, the largest U.S. bank failure since the 2008 financial crisis.\n\nShares of PacWest Bancorp tumbled nearly 30%,\u2026\u201d
— Mario Nawfal (@Mario Nawfal) 1683043099

According to Time, investors and analysts remain concerned about banks such as Comerica and KeyCorp, which — like SVB and Signature Bank — have a large number of accounts with deposits over the federally insured level of $250,000.

CNBC indicated that this concern can be attributed to the recent failures, the expected regulatory changes they have prompted, and prospective Fed rate hikes.

Former Dallas Fed president Robert Kaplan suggested that as far as the regional banking crisis goes, it would be ill advised for the Federal Reserve to continue its rate hike campaign.

The Fed is expected to raised its benchmark rate by 0.25 percentage points on May 3.

"I’d prefer to do what’s called the hawkish pause, not raise but signal that we are in a tightening stance," Kaplan told Bloomberg. "It is more important to be able to sustain the current rate for an extended period of time, longer than the market thinks, than to get another 25-50 basis points and risk having to cut again. I think that will be very troubling."

Economist Peter St Onge of the Heritage Foundation noted Monday that thousands of banks are "in trouble because of the fastest rate hikes in 50 years [which] crashed their bonds, impaired their loans, and vaporized the easy profits they were making paying depositors pennies."

Onge further claimed that virtually every bank in America loaded up on expensive bonds "to park the influx of pandemic-era deposits" then lost "hundreds of billions as rates went up. American banks are now sitting on at least $620 billion of unrealized hidden losses. So First Republic was about 5% of that and we've got 95% to go."

\u201cFirst Republic bailed out for $63 billion\u201d
— Peter St Onge, Ph.D. (@Peter St Onge, Ph.D.) 1682944624

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