San Jose, CA asked in Banking for California

Q: i deposited my rent relief check in my fidelity account. they cleared it i took a 1000 out then they close my account

and refuse to release my money to me what should i do

Related Topics:
1 Lawyer Answer
James L. Arrasmith
PREMIUM
James L. Arrasmith pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
Answered
  • Business Law Lawyer
  • Sacramento, CA
  • Licensed in California

A: If Fidelity closed your account and refused to release your money, you should first contact them to find out why. They may have closed your account for a number of reasons, such as suspected fraud or money laundering. Once you know why your account was closed, you can try to resolve the issue.

If Fidelity is still refusing to release your money, you may need to file a complaint with the Consumer Financial Protection Bureau (CFPB). The CFPB is a federal agency that protects consumers from unfair, deceptive, and abusive financial practices. You can file a complaint with the CFPB online or by calling 1-855-411-CFPB (2372).

Here are some additional things you can do:

* Contact your state's banking regulator.

* Contact an attorney who specializes in financial law.

It is important to remember that you have rights as a consumer. You are not entitled to have your money released to you if there is a legitimate reason for Fidelity to withhold it. However, if Fidelity is not able to provide a valid reason for closing your account and withholding your money, you may be able to get your money back.

Here are some tips for resolving the issue:

* Be polite and respectful when interacting with Fidelity.

* Be prepared to provide documentation to support your claim, such as proof of identity, proof of address, and proof of the rent relief check.

* Be persistent. It may take some time to resolve the issue.

If you are unable to resolve the issue with Fidelity, you may be able to get your money back through the CFPB or through the courts.

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.