NEW YORK (TheStreet) -- The term "bank run" conjures up all kind of bogeyman images, and right now it's rearing its ugly head in the U.K.
That doesn't mean a bank run is imminent here in the U.S., but in the age of global digital media, what's happening in England has American bankers thinking the once unthinkable.
The story starts in London, where customers of HSBC complained last week they couldn't withdraw large sums of money from local bank branches without asking for what amounts to a "permission slip."
According to the British Broadcasting Co., customers were being told by bank staffers they could not withdraw more than 5,000 in British pounds (or $8,253 in U.S. dollars) without having a "good reason" for making the withdrawal.certain limits on consumer accounts last year. But the fact that such talk is now out in the open may give bank customers pause, leading them to at least start thinking about worst-case scenarios that might lead to big withdrawals. If enough bank customers start thinking those thoughts, that's where the seeds of a bank run are sown.
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