"Banking World" Feels the Impact of Sandy
By: Jessica Reyes
Updated: November 5, 2012
"Last Monday night there was a breach of a levy in Lyndhurst, New Jersey and that facility was flooded," says Robert Baronner, CEO of the Bank of Charles Town.
The Bank of Charles Town uses that facility to process checks, but it suffered so much damage it was forced to shut down once Sandy hit, causing a rippling effect of problems.
"It services 165 banks mostly through out the mid-Atlantic Area," says Baronner. "As a result those banks during the last week have had challenges posting transactions to their customers accounts."
According to a letter from the bank, if you've been assessed any late fees as result of the inconvenience the bank urges you to contact them so they can refund you those charges.
"As soon as the transactions are posted we'll begin the process of reviewing those transactions where people may have overdrawn their account or had late payments," says Baronner. "We'll be refunding all of those fees."
Bank officials say they've been working diligently to get the problem resolved for the past week.
And their hard work has paid off, as of Monday afternoon, all transactions have been posted to customers accounts
"Several of us have slept here over the weekend," says Baronner. "We've spent countless hours trying to fix this problem for our customers because they're what we're here for."
As of Monday afternoon, the Bank of Charles Town is up and running without a problem.



