Portland, ME asked in Banking for Maine

Q: Does moving out of state have any effect on my rights as a bank account holder (like do banking laws drastically differ

from state to state?

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1 Lawyer Answer
Elliott R. Teel Esq
Elliott R. Teel Esq
Answered
  • Business Law Lawyer
  • Portland, ME
  • Licensed in Maine

A: Most consumer banking laws are federal. There will be variations from state to state, but not significant for most people, with some differences if it is a commercial account or loan. A major exception is foreclosure procedure, which is more a property law than financial, and will vary considerably be state.

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