Semantics question: Can "grandfathered in" also refer to a disadvantage in having old rules apply?

[Dan Druff]

Was at Citibank today. About 18 months ago, I was informed by Citibank that my "free" checking account was going to have a minimum balance requirement of $6000 instead of $1500, which really sucked. If I did not meet that minimum balance, I would be charged a $15 monthly fee. Not wanting to close my account (since it's useful having a Citi account), I deposited a bit more money to take my balance over $6k.

Today I was in the bank for an unrelated reason, and asked if the requirement was still $6000. The clueless teller snap-told me it was $1500, but I didn't believe her. She checked into it, and her manager told me $12,000, which was also untrue, as I had far less than $12,000 and hadn't been charged any fees.

Finally they looked it up, and told me the following:

"You have an old version of our checking account that had a $6000 minimum balance requirement to avoid fees. We don't have that checking account anymore, but you are being grandfathered in, so you might want to leave it alone."

I asked, "Yeah, but perhaps it's a bad grandfathering. Maybe your new version has a lesser minimum balance requirement?"

She snapped back at me, "Grandfathering in always means it's good."

Not wanting to get into a debate about this, I had her look up whether the current checking account being offered was better or worse than that. Indeed, I was right. The new checking account type only requires $1500 minimum, and has everything else the same as my old one. Obviously I switched.

The question: Does the term "grandfathered in" apply to disadvantageous rule carryovers like this one, or only to advantageous ones?

I think it applies to both. The term simply means that exceptions to the current rules are being made because you signed up on different terms, but not necessarily that these are favorable exceptions.

[Crowe Diddly]

Anytime I've heard the phrase, it suggests a positive outcome for the grandfathers. By getting exemptions from new laws and/or restrictions, the GFs get to continue the status quo rather than comply with new, presumably harsher or stricter rules or requirements. The word 'grandfather' has pretty much overwhelming positive connotations as well, suggesting a better outcome than the newer laws/rules allow for. You are not exempt from anything, here. You are just getting bad service from a financial institution.

Maybe you were grandfathered out of the new benefits they offer?

[Sloppy Joe]

Anytime I've heard the phrase, it suggests a positive outcome for the grandfathers. By getting exemptions from new laws and/or restrictions, the GFs get to continue the status quo rather than comply with new, presumably harsher or stricter rules or requirements. The word 'grandfather' has pretty much overwhelming positive connotations as well, suggesting a better outcome than the newer laws/rules allow for. You are not exempt from anything, here. You are just getting bad service from a financial institution.

Maybe you were grandfathered out of the new benefits they offer?

I've never heard of a 'grandfathered in' situation having a negative connotation.

On a semi-related note, I thought that I had been the beneficiary of being 'grandfathered in' to Virginia's new boating laws.

Until a couple of years ago, no license was needed to operate a PWC or boat. Now you need one.

I was under the impression that I was grandfathered into the boat portion of this law (I knew I had to get licensed for the PWC) only to find out that I need the SAME license for the boat.

It's only an LOL-$30 for a lifetime license; the awful part is that I have to take a six-hour 'course' online to get it.



I offered some neighbor kid $100 only for his parents to reject the deal and label me a bad influence. Gonna have to grind out the course tonight so I can take friends out for fireworks tomorrow night without having to worry about getting a ticket. Cops prowl the water like crazy on the Fourth.

[anonamoose]

Grandfathering should only be beneficial. If there's problems you need to just walk away from it. Close it down and open a new one if you have to.

[4Dragons]

I thought 'grandfathered in' was something Jenny Anderson would say when entertaining company.

[Deal]

The best way to take advantage of their thievery is to take that 6k and invest in their common stock:

http://www.citigroup.com/citi/ajax/s...ice_chart.html

[ShawnFanningsLimpDick]

I believe the teller was semantically correct in saying your account had been grandfathered in. As I understand it, grandfathering refers to an exemption to a new rule being granted for an existing entity but which all newcomers must follow. Of course it makes no sense to apply grandfathering when it's -ev because you could just close the account and open a new one but large organisations almost never have coherent rules because they're being set by different divisions.

[Rollo Tomasi]

Anytime I've heard the phrase, it suggests a positive outcome for the grandfathers. By getting exemptions from new laws and/or restrictions, the GFs get to continue the status quo rather than comply with new, presumably harsher or stricter rules or requirements. The word 'grandfather' has pretty much overwhelming positive connotations as well, suggesting a better outcome than the newer laws/rules allow for. You are not exempt from anything, here. You are just getting bad service from a financial institution.

Maybe you were grandfathered out of the new benefits they offer?

I've never heard of a 'grandfathered in' situation having a negative connotation.

On a semi-related note, I thought that I had been the beneficiary of being 'grandfathered in' to Virginia's new boating laws.

Until a couple of years ago, no license was needed to operate a PWC or boat. Now you need one.

I was under the impression that I was grandfathered into the boat portion of this law (I knew I had to get licensed for the PWC) only to find out that I need the SAME license for the boat.

It's only an LOL-$30 for a lifetime license; the awful part is that I have to take a six-hour 'course' online to get it.



I offered some neighbor kid $100 only for his parents to reject the deal and label me a bad influence. Gonna have to grind out the course tonight so I can take friends out for fireworks tomorrow night without having to worry about getting a ticket. Cops prowl the water like crazy on the Fourth.

over regulation is killing America

F- Bloomberg