Saint Clair, MI asked in Banking and Business Law for Michigan

Q: I owned a business, our bank without notices or court order froze our bank account, this closed the business immediately

The company was not behind on payments and not out of formula on credit line, I cannot talk to our loan officer and bank attorney will not provide any info

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1 Lawyer Answer
Adam Alexander
Adam Alexander
  • Southfield, MI
  • Licensed in Michigan

A: Not a lot of detail in this question. A lawyer will need a lot more to provide you with your best legal options. However, my suggestion would be to immediately file a complaint with the CFPB. Your bank will have to respond, and this action may allow for a resolution. To the extent you later file a lawsuit, the CFPB complaint demonstrates your efforts to resolve the matter informally.

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