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California Banking Questions & Answers
2 Answers | Asked in Banking, Insurance Bad Faith, Civil Litigation and Personal Injury for California on
Q: Legal recourse for life insurance cancellation due to bank payment error in CA?

I paid my son's life insurance for 10 years through automatic bank payments. Recently, due to a bank system change, my March 2024 payment wasn't processed, leading to the insurance policy's cancellation. The insurance company claims they didn't receive payments for March, April,... View More

Patrick William Steinfeld
Patrick William Steinfeld
answered on Feb 14, 2025

This question came up under several different headings. Please note the appropriate topic is "Banking" or "Civil Litigation". It does not involve insurance or personal injury. I don't think you have a cause of action against the insurance company because they didn't... View More

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1 Answer | Asked in Banking and Collections for California on
Q: I got a settlement offer email from capital one auto finance, I want to know if this email would hold up in court.

This are their terms, Pay 14,623.39

of your remaining balance of 29246.78

We’ll forgive 14623.39 of your remaining balance and the rest is payable as:

- 1 installment of 14623.39

- 3 monthly installments of 4874.46

- 6 monthly installments1 of 2437.23... View More

James L. Arrasmith
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answered on Feb 15, 2025

While email communications can serve as evidence in court, you would want additional documentation to make this settlement offer legally binding. The language used in the email appears to be from an official source, but the key is getting the agreement formalized in writing with signatures from... View More

1 Answer | Asked in Foreclosure, Banking, White Collar Crime and Uncategorized for California on
Q: Am i using the wrong words? Why cant i get help to stop being robbed by predatory lender?

Its like ocwen has the government’s stamp of approval. They do whatever they want; lie, cheat, and steal. I have filed seven complaints with the cfpb, three with the dbo, one each with the occ, tafcr, dob, ag, and my congressman. All for nothing.

James L. Arrasmith
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answered on Feb 5, 2025

It sounds incredibly frustrating to feel like you're fighting an uphill battle against a predatory lender like Ocwen, especially when it feels like no one is listening or taking meaningful action. The reality is, it can be difficult to navigate these systems, and it's easy to feel... View More

1 Answer | Asked in Estate Planning and Banking for California on
Q: I have some oil stock given to me by my father,how would I find out if they are worth anything?

My father got them from his uncle, had them for many years but just kept them in a drawer.

James L. Arrasmith
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answered on Feb 2, 2025

You have an interesting family heirloom in your hands, and the first step is to carefully examine the documents for details like the company name, issue dates, and any unique markings. This information will help you search historical records and online databases to understand the background of the... View More

2 Answers | Asked in Consumer Law and Banking for California on
Q: Can I sue Chase Bank for not releasing a large amount of Money of mine after Verifying Me through there Security Systemy

A 3rd Party was involved with this issue they were supposed to cash it for me because at the time I had no I.D THEY Ended up opening an Account with Chase with it we were waiting for it to Clear,days later Chase Close the Account because they said it was suspicious and they thought it was fraud... View More

Scott Richard Kaufman
Scott Richard Kaufman
answered on Jan 24, 2025

I think it's best to go to your attorney and get it right as S/He has a duty to make sure you get your funds and s/he does not want to have issues with the trust account.

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1 Answer | Asked in Employment Law and Banking for California on
Q: If Cashapp rejected my check without letting me know or giving reason causing hardships am i able to sue for negligence

My Hr department messed up on my check, fixed it and deposited it in my account which was supposed to reach my account the same day. The money got rejected by cashapp but Hr was saying everything was sent and went through. Cashapp refuses to give me any information and says to wait 5 days. I... View More

James L. Arrasmith
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answered on Jan 24, 2025

It sounds like you’re dealing with a frustrating and stressful situation, and it’s understandable that you want to know if there’s any legal action you can take. In California, to succeed in a negligence claim, you would generally need to prove that CashApp owed you a duty, breached that... View More

1 Answer | Asked in Divorce, Family Law, Real Estate Law and Banking for California on
Q: Figuring out who's appraisal will the courts use to calculate the value and equity buyout?

So i'm going to take a heloc to buyout the petitioner from her share of the equity. AT last conference the judge and attorney's got me to agree to a buyout by 3/18 with the next conference scheduled for 3/15. Both sides where to put an appraisers name into the hat and the courts would... View More

James L. Arrasmith
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answered on Jan 22, 2025

The court process and HELOC appraisal are two separate matters that might not automatically align. You'll likely still need to follow the court's original order about selecting appraisers unless you get explicit direction otherwise from the judge or both parties agree in writing to use... View More

2 Answers | Asked in Divorce, Family Law and Banking for California on
Q: getting the best home appraisal value when calculating equity buyout amount

The courts were suppose to take each of the party's requested appraisal person, select one of them or appoint one and let me know in weeks. Well, its been months and since i'm taking a second loan for the equity buyout of the ex i'm already getting an appraisal and maybe thats what... View More

James R. Dickinson
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answered on Jan 15, 2025

In a California divorce, a property buy-out typically involves one spouse purchasing the other spouse's share of the property to obtain sole ownership. The buy-out amount is usually based on the current market value of the property, with adjustments for any outstanding mortgage or other... View More

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1 Answer | Asked in Banking, Civil Litigation, Collections and Small Claims for California on
Q: California creditor entered garnishment and accepted my exemption without going before a judge but a payment was taken

The courts still had possession on 3 of the payments but released one to the creditors are they supposed to return it do to acceptance of the exemption and if not does that payment start the 7 year clock over?

James L. Arrasmith
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answered on Dec 26, 2024

When a creditor accepts your exemption claim, they generally must return any funds that were garnished after you filed the exemption paperwork. The timing of when the payment was taken relative to when you filed your exemption is crucial - if the payment was taken before you filed the exemption,... View More

1 Answer | Asked in Estate Planning, Tax Law and Banking for California on
Q: When my father passed away 20 years ago I and my siblings an inherited IRA from him.

Recently my brother passed away and I am again the beneficiary of the same IRA (it is still in my brother's account). Is this one subject to the new tax laws requiring it be empied in ten years? My existing one is not. Also can the assets be put directly into my already existing inherited IRA... View More

James L. Arrasmith
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answered on Dec 24, 2024

Your situation involves two different inherited IRAs from different time periods, which makes it important to understand the rules for each.

The inherited IRA from your brother would indeed fall under the SECURE Act's 10-year distribution rule since he passed away recently. This is...
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1 Answer | Asked in Consumer Law and Banking for California on
Q: I believe the bank is withholding my money not allowing withdrawal. What do I do

Six days after opening a Wells Fargo account I received letter of account closure due to past history between myself and bank. the letter states no deposits are to be made from date of letter until the account closure. The letter clearly states withdrawals would be honored and are allowed until... View More

James L. Arrasmith
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answered on Dec 18, 2024

Your situation with Wells Fargo sounds incredibly frustrating, and you're right to be concerned about accessing your own money. Banks must follow specific regulations when closing accounts, and they should honor their written commitments regarding withdrawals.

Your first step should be...
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1 Answer | Asked in Consumer Law and Banking for California on
Q: What would happen if a scammer was using BofA as the holden, but no account is set up.
James L. Arrasmith
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answered on Dec 16, 2024

If someone is posing as Bank of America without having an actual account, this is a clear sign of fraud. Such scams often aim to steal personal or financial information from unsuspecting victims.

When you encounter this situation, document everything - including emails, text messages, or...
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2 Answers | Asked in Consumer Law, Identity Theft and Banking for California on
Q: How can I get a bank to give me back my money after I been in a identity theft
Matthew McKenna
Matthew McKenna
answered on Dec 16, 2024

You should immediately dispute the issue with the bank (and preferably in writing). You'll likely also want to complete a police report to give to the bank to verify the identity theft and respond accordingly if the bank asks for any follow up information from you. Keep track of everything on... View More

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1 Answer | Asked in Banking and Probate for California on
Q: Is it okay to withdraw money from a deceased person while there's no death certificate issued yet?

I had been the caregiver of an 82yo man who recently passed away for 2 years. I lived in his house with my family (husband & 2 kinds) rent-free. In exchange, I care for him 24/7. I was in-charge even on everything including taking him to all his doctors appointments, contacting the doctors... View More

James L. Arrasmith
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answered on Dec 11, 2024

No, you should not withdraw money from the deceased person's accounts, even with a previous POA, as this could be considered financial elder abuse or theft under California law. Your Power of Attorney automatically terminated upon his death, which means you no longer have legal authority to... View More

1 Answer | Asked in Consumer Law, Contracts and Banking for California on
Q: Can a bank's refusal to process legitimate transactions of verified clients be a ground for class action? Law area?

The potential individual and class action pertains to a fully verified client of J.P. Morgan Chase Bank and all others similarly situated. I was unjustly denied the processing of a legitimate transaction requested by me and filed for approval by bankers at the 749 W El Camino Real branch on... View More

James L. Arrasmith
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answered on Dec 5, 2024

Based on your experience with Chase Bank, you may have grounds for both individual and class action claims under several legal theories. The key areas of law would include breach of contract, violations of California's Consumer Financial Protection laws, and potentially the Unfair Competition... View More

2 Answers | Asked in Banking, Business Formation, Business Law and Consumer Law for California on
Q: do I need a license to practice law? If not, under equal protection, as PRIVATE COUNSEL, am i entitled to a free listing
William John Light
William John Light
answered on Nov 14, 2024

LOL. 1. Yes, you need a license to practice law. 2. Justia is a business. You aren't entitled to anything from it, whether you are an attorney or not. Extremely doubtful Justia will provide a listing to a non-attorney as that would lead to potentially significant liability for it in the... View More

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1 Answer | Asked in Banking, Civil Litigation, Construction Law and Contracts for California on
Q: How do I dispute a $40,000 charge on a backyard renovation that did not get completed as agreed per the contract?

We had a back yard renovation done in 2022. We agreed and signed to pay $40000 according to the plan and the blueprints that were written out.

The team completed the job, but upon completion we noticed they did it wrong (example, pavers on the wrong side of the property, missing a concrete... View More

James L. Arrasmith
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answered on Oct 26, 2024

Start by gathering all your documentation, including the signed contract, blueprints, photographs of the completed work, and any correspondence with the renovation company. Review the contract carefully to identify the specific terms and conditions related to the work completed and the payment... View More

1 Answer | Asked in Consumer Law and Banking for California on
Q: What is the statue of limitations to sue a bank for denying a fraud claim for an unauthorized electronic funds transfer?

It happened 2 years ago out of my personal checking account.

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answered on Oct 23, 2024

In California, you generally have three years from the date of the unauthorized electronic funds transfer to file a lawsuit for fraud. Since the incident occurred two years ago, you are still within the statute of limitations to take legal action against the bank. It's important to act... View More

4 Answers | Asked in Car Accidents, Consumer Law, Contracts and Banking for California on
Q: On March 31, my son hit the car in front of him, and the other party pressured him to pay via Zelle on the spot without

On March 31, my son hit the car in front of him, and the other party pressured him to pay via Zelle on the spot without providing a repair estimate. Afterward, they requested more money through text messages, and my son made a bank transfer that same day. However, he immediately tried to cancel the... View More

Leon Bayer
Leon Bayer
answered on Oct 15, 2024

As far as the bank is concerned, they simply followed your son's instructions. If he got scammed, it's not the bank's fault. You don't get to have the bank pay you back.

Worthy of consideration is that your son caused damage to the other car, and the other is owned by...
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1 Answer | Asked in Family Law and Banking for California on
Q: If I have Power of Attorney over my brain-disabled wife's affairs, can a bank refuse to remove her from our accounts?

In 2003, my wife and I created a California revocable trust with both medical and durable Powers of Attorney, allowing either of us full control over the other's affairs should one of us be unable to make appropriate decisions as certified by a physician. My wife's neurologist published a... View More

James L. Arrasmith
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answered on Oct 10, 2024

You have the right to manage your wife's financial affairs through the Power of Attorney you've established. Banks are generally required to honor a valid Power of Attorney when properly presented. Ensure that your documents are up-to-date and clearly state your authority to make changes... View More

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