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Iowa Banking Questions & Answers
2 Answers | Asked in Banking, Consumer Law and Contracts for Iowa on
Q: I was paid over $5000 by a company to advertise on my car. I deposited it into my bank and spent it.

The checks came back as fake and now my bank wants me to pay all the money back to them. I'm on Social Security Disability and can't afford to do that. Since my bank is FDIC insured, won't they get their money back that way? Am I really obligated? After all, the only true victim is... Read more »

Ana Maria Del Valle-Aguilera
Ana Maria Del Valle-Aguilera answered on Sep 3, 2020

FDIC insurance covers you (the funds in your deposit account) if the bank fails (kind of like going bankrupt). As an account holder you are responsible to the bank for all checks deposited into your account. This is covered by law (under the Uniform Commercial Code) in every state, and all banks... Read more »

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1 Answer | Asked in Banking, Business Law, Civil Litigation and Contracts for Iowa on
Q: Re: 3rd party financing thru a dealership. Is it legal to have someone sign an assigned contract if its already denied?

A bank denied credit before we signed. Dealer never told us but had same banks name on contracts as assignee.

Erik Luthens
Erik Luthens answered on Jan 5, 2020

This question is too fact intensive for an online forum. You need to immediately retain an Iowa attorney to obtain an informed opinion.

1 Answer | Asked in Banking and Civil Litigation for Iowa on
Q: If a bank is paid off and the loans are moved to another bank and the previous bank signed off can they still foreclose

the bank has an on going lawsuit against them and signed off on the loans to be transferd to another bank and the transfer was completed for months now. Now they filed a deficancy on the farm and sold it without our knowledge and now are evicting us. what can be done to stop this?? They also... Read more »

Erik Luthens
Erik Luthens answered on Nov 23, 2019

You need to immediately consult with an Iowa attorney who handles real estate matters and farm foreclosures in particular.

2 Answers | Asked in Federal Crimes and Banking for Iowa on
Q: It’s been 6 months since the situation can he still report fraud
Gary Kollin
Gary Kollin answered on Sep 5, 2019

I guess. I have no idea without facts, type of fraud, date of discovery and so many more questions

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1 Answer | Asked in Banking for Iowa on
Q: how do you get full financial power of attorney over someone

My grandson is high functioning autistic. He works full time and gets paid every 2 weeks. I have durable power of attorney so I can get into his bank accounts and pay bills but he will spend it all before I can get a chance to ever pay them. I may get $150 - $200 to buy groceries or pay part of his... Read more »

Bruce Alexander Minnick
Bruce Alexander Minnick answered on Jul 16, 2019

If you have a durable power of attorney now that is the best you can do--short of filing an action in the circuit court seeking some sort of limited guardianship. Hire a family lawyer to help you.

1 Answer | Asked in Banking for Iowa on
Q: Judge ordered a stay of garnishment on our bank account Monday, it’s friday when and how will my bank be notified? iowa
Bruce Alexander Minnick
Bruce Alexander Minnick answered on May 31, 2019

Your bank should have been notified; however, if the judge merely stayed the garnishment it may not go away entirely. Suggest you call the lawyer that helped you get the stay.

1 Answer | Asked in Banking, Estate Planning and Probate for Iowa on
Q: What if someone takes money (bank CDs) that is left to someone else in a legal will?

My grandmother left 2 CDs left to my father in her will, also stating that if he passes within 30 days then they would go to me, my father passed 3 days later. The bank only had my father as a beneficiary, so they were put in his name. My father did not have a will. The bank told me they... Read more »

Kenneth V Zichi
Kenneth V Zichi answered on Jan 10, 2018

I'm sorry for your loss, however it sounds like your Grandmother messed up here. If there is a beneficiary named on an asset, the will does not control it, and if your father died 1 second after your grandmother, then the bank did what it should by placing the CDs into your father's name.... Read more »

1 Answer | Asked in Banking and Juvenile Law for Iowa on
Q: I live in Iowa and just turned 18. I have a minor bank acct. My dad won't sign over my money that I earned.

I was told that once I turned 18 I could get into my money. My dad is refusing to sign the paper as he's the custodial owner of the account. What can I do?

Brian Lehman
Brian Lehman answered on Jan 30, 2017

There are two issues here: (1) who owns the money, and (2) how do you get it. The money belongs to the child who is now an adult. "Under terms of a state's Uniform Gift to Minors Act or Uniform Transfer to Minors Act, a custodian controls these accounts while the child is a minor. But... Read more »

1 Answer | Asked in Banking for Iowa on
Q: What should I do when a Room-mate steals everything I have?

Used my checking account. She had her name on the account.Wrote bad checks, withdrew ALL the money, never recorded what was taken, never told me she took it, never gave me the money!!

Howard Berkson
Howard Berkson answered on Nov 22, 2013

Call the police to see about initiating criminal proceedings. Talk to an attorney about civil proceedings. I would do both. However, if you and your roommate shared a checking account, then her use of funds in that account probably did not constitute theft.

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