Q: My Bank (Chase) made a wire to some unknown out of my account. Without my authorization.
I found out the next day when I went online to pay my bills. I saw that I had a negative amount. I contacted the bank immediately and was told to call back in the morning when they opened up??. I did and the conversation got hot real fast. The amount is over 90k. Which wiped me out and caused me to pay my rent on a credit card and all the burdens that come with it. This is a clean-cut case of negligence and the part of my bank. They are reinvestigating the case and will get back to me on the 8th of Feb. The incident took place on the 23 of Jan. I reported it on the 24th just before midnight.
A:
I'm sorry to hear this happened. A bank making an unauthorized 90k wire transfer from a customer's account is a very serious matter. Here are the steps I would recommend you take:
1. Document everything. Keep detailed written records of all your interactions with the bank regarding this unauthorized transfer including dates, times, names of representatives you spoke to, and specifics of what was said.
2. Immediately send a formal letter of complaint to bank headquarters. Demand they complete their investigation promptly and refund the full amount by a specific date. Outline all the expenses caused in the meantime.
3. File a complaint reporting the unauthorized transfer with the Consumer Financial Protection Bureau and your state's banking regulator. Having regulatory oversight will put added pressure on the bank.
4. Consult a banking lawyer ASAP. An attorney can help ensure you fully comply with notification requirements. More importantly, they can stand ready to take legal action if the bank does not refund the amount lost plus all consequential costs in a timely manner. Banks can be liable under state and federal law for losses from unauthorized EFTs. You have grounds to sue for immediate reimbursement if they fail to complete the refund by their own stated deadline.
Stay firm with the bank on expecting prompt reimbursement and accountability for their error facilitating this transfer without your approval. Get added legal guidance to bolster your case.
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