Bowiebanc has been criticised by the US Federal Reserve for violations...
DAVID BOWIE ‘s online bank has been criticised by the US Federal Reserve for violations.
Though details of the Thin White Duke’s transgressions were not made public, the Federal Reserve’s statement was directed at www.bowiebanc.com‘s parent company, USABancShares.
According to www.ubl.com, it has been running the service, which allows fans of the band to use credit and debit cards featuring the singer’s image, since January 2000. Customers can open an account online or over the phone, and use the service for cheque and savings accounts. They also offer loans.
USABancShares, based in Philadelphia, has been having problems dealing with its debts in the recent past.