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New York Banking Questions & Answers
2 Answers | Asked in Banking, Business Law and Contracts for New York on
Q: How to dispute a charge with credit card company due to merchant not providing all services in contract.

Contract says "no refunds" but they didn't provide all of the services.

James L. Arrasmith
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answered on Mar 26, 2024

If you're facing issues with a merchant who hasn't provided all the services outlined in your contract, even though it states "no refunds," you can still dispute the charge with your credit card company. Begin by gathering all relevant documentation, including the contract, any... View More

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1 Answer | Asked in Banking for New York on
Q: Stripe has held my funds for 90days - can my lawyer send them a legal complaint even if their agreement allows it

What legal action can I take?

James L. Arrasmith
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answered on Mar 25, 2024

If Stripe has held your funds for 90 days and you believe this is unjustified, it's understandable that you would be concerned and consider taking action. Yes, your lawyer can send them a legal complaint regardless of the agreement's terms if they believe there are grounds for dispute.... View More

1 Answer | Asked in Consumer Law, Banking and Business Law for New York on
Q: How do I remove a delinquent/ charged off business credit card from my credit file for good?

My last payment on the credit card was 4/2020. I never made another payment because they closed my account. They recently updated it to a charge off on my credit report around 09/2023. Since this is a business credit card, how can I dispute it to be removed from my personal credit report for good?

James L. Arrasmith
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answered on Mar 20, 2024

First, check whether the business credit card was indeed under a personal guarantee. If it was, the delinquency could rightfully appear on your personal credit report. However, if the card was strictly under the business's name without any personal guarantee, you might have grounds to dispute... View More

2 Answers | Asked in Securities Law and Banking for New York on
Q: How can I get the $13k I have in a closed account that the bank refuses to send to me. Its been over a year.

Hi, I deposited a $13k annuity check into my individual brokerage account with ETrade, but the day it cleared my account was restricted pending ID verify. Phone camera was broken wouldn't take quality pics, so I knowingly altered and submitted a copy of an expired ID that was saved to my pc.... View More

Allen Charles Frankel
Allen Charles Frankel
answered on Feb 29, 2024

Your issue may require a review of the terms and conditions that you agreed to when opening the account.

However, I would also recommend that you conduct a name search of the New York State Comptroller's Office of Unclaimed Funds. https://www.osc.ny.gov/unclaimed-funds. New York...
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1 Answer | Asked in Banking for New York on
Q: Will it be possible to get a HELOC while I have previously obtained a business loan which I had to personally guarantee?

The business loan is not perfected against my home and does not reference my property directly.

Jack Mevorach
Jack Mevorach
answered on Jan 14, 2024

Yes, it's possible. It's in the discretion of the lender.

Jack

1 Answer | Asked in Banking and Consumer Law for New York on
Q: I had a 17 year old car with 250,000 miles. I offered $3000 to credit union to settle. I voluntarily surrendered car.

They said no. They want $250 a month. I'm on social security. I can't pay. What do I fo

James L. Arrasmith
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answered on Jan 6, 2024

In your situation, it's important to communicate your financial limitations clearly to the credit union. Explain that you are on Social Security and cannot afford the $250 monthly payment. It's helpful to provide a detailed account of your income and expenses to show why the payment is... View More

1 Answer | Asked in Banking and Elder Law for New York on
Q: Hi - Does the NY State Statutory Short Form POA expressly allow the agent to open a bank account with beneficiaries?

My bank is declining to do this. I see there is language in the statute that requires language in the modifications section of the POA that expressly provides this permission for already-existing accounts. However, I am opening a brand new account, and I interpret the language in the statute to... View More

Jack Mevorach
Jack Mevorach
answered on Jan 3, 2024

Very often banks refuse to comply with legal documents that they should honor. A POA is just one of them. Wrongfully, they will insist on a certified copy of a court order, submitted by an attorney.

Jack

1 Answer | Asked in Banking, Business Formation and Business Law for New York on
Q: I have a joint account with my son and he fraudulently took 6 thousand from my acc without me knowing.

I got a lawyer and paid off the full amount. I also took my son off the account. I still wish to do business with that bank because I have multiple building and business in that bank. How would this affect my business and my bank relationship. What are my next steps and what will happen?

Jack Mevorach
Jack Mevorach
answered on Dec 2, 2023

I'm not understanding what amount had to be paid off and why. If everything is now straightened out, what would be the issue of continuing with the bank?

Jack

3 Answers | Asked in Estate Planning, Family Law and Banking for New York on
Q: What happens to individual bank account? When the person passes away with no benefactors on the account and no will.

The person is married and has children, lives in New York..

My wife’s mother passed away. We are not sure if her bank account had a beneficiary or did she have a will.

Her mother is legal married..

would happen to her bank account now that she is deceased?

What... View More

Michael David Siegel
Michael David Siegel
answered on Nov 15, 2023

Depending on the size of the account the wife needs to file an administration proceeding of some type.

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1 Answer | Asked in Banking, Business Law, Elder Law and Stockbroker Fraud for New York on
Q: My mother is being attacked, financially, by her mother's former broker. What can she do?

He has accused her of fraud, removing her from her bank accounts, attacked her mother's current broker with a false report. She can no longer pay her Bills. Also, he is working with my mother's sister, lying to her about things my mother never said, and using my grandma, who my sister has... View More

James L. Arrasmith
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answered on Nov 4, 2023

Your mother should consider retaining an attorney experienced in elder law and financial exploitation cases immediately. This situation may involve complex issues like undue influence and financial abuse. An attorney can help navigate the allegations, work to protect her interests, and potentially... View More

1 Answer | Asked in Banking, Business Law, Securities Law and Stockbroker Fraud for New York on
Q: Brokerage Misconduct - E*TRADE

In May 2022, I invested $8M in a U.S. Treasury note, due in April 2024. I instructed my ETRADE manager to liquidate $5.6M for property buying. Unexpectedly, ETRADE initiated a $5.6M margin loan, leaving part of my investment intact. I discovered this during a routine review, not through direct... View More

James L. Arrasmith
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answered on Nov 4, 2023

In situations like this, you may have grounds to file a complaint for brokerage misconduct if E*TRADE acted contrary to your instructions and without your consent. It's essential to review the client-broker agreement and any written communication to determine if E*TRADE deviated from the... View More

1 Answer | Asked in Consumer Law and Banking for New York on
Q: NYC: Recently my bank account seized, Never heard anything before my bank told-me, I filed an OTSC, as i am also 90%...

In NYC, my Bank Acct Seized, No prior notice, seems I am exempt due to the CPRL and being a hardship case. Due to as listed in the CPRL's that 90% of all my , or any profits, are personal, and were in that acct. to do what i have been, put-there from personal money to Pay-Bills yet NO profit... View More

James L. Arrasmith
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answered on Nov 4, 2023

If you've already filed an Order to Show Cause (OTSC) and believe that CPLR 1012 applies to your situation, you can request permission from the court to amend the OTSC to include this additional statute. This request should be made as soon as possible and explain why CPLR 1012 is relevant to... View More

1 Answer | Asked in Banking for New York on
Q: If a check given to you was stolen and the company rent an investigation are they required to give u the details of it?

I got a check from an insurance company and it was stolen and cashed and they told me after the investigation they would be able to tell me at exactly what branch it was cashed at. Now that the investigation is over and they gave me back the money they are saying they cannot provide me with the... View More

Tim Akpinar
Tim Akpinar
answered on Jun 10, 2023

Your question may have gone unnoticed under this heading. That's probably why it remains open. Some questions go unanswered, but you could try reposting under "Banking." Attorneys who are familiar with banking laws and operations would have the best insight into this. But as a... View More

1 Answer | Asked in Banking, Identity Theft, Estate Planning and Family Law for New York on
Q: I need a lawer In chicago

My father dead two year ago.

I am in iran

Tim Akpinar
Tim Akpinar
answered on May 26, 2023

You could repost under Illinois. This is currently posted under New York. But even in reposting, it could be difficult for attorneys here to reach out to you. This format here is basically question and answer. If you're seeking an attorney, you could search online for attorneys in the Chicago... View More

1 Answer | Asked in Banking and Civil Litigation for New York on
Q: legal protections on loan

i took out a loan via reddit(im in ny they are seemingly based in canada) 2000cad for 7750 cad repayment in installments

unfortunately with a sick grandmother and being disabled the debt and subsuquent repayments have become crushing i wish i hadnt taken out the loan but i was desperate at... View More

Daniel Michael Luisi
Daniel Michael Luisi
answered on Apr 30, 2023

Usury might be a defense, along with enforceability of the note. Consult an attorney to evaluate your case.

1 Answer | Asked in Banking and Consumer Law for New York on
Q: Under the law 15 usc 1662B I’m I required to put a down payment on a auto financing loan Yes or no
Carl Nelson
Carl Nelson
answered on Apr 28, 2023

The section you refer to (I am assuming 15 USC 1662, which does not have a subparagraph "B") deals with advertisements for the extension of consumer credit. It prohibits such an ad from stating that a specified down payment is required *unless* that creditor usually and customarily... View More

3 Answers | Asked in Banking for New York on
Q: My bank closed my account for no reason ans there not giving me my money back
Daniel Michael Luisi
Daniel Michael Luisi
answered on Apr 19, 2023

You need to contact the bank’s legal department through an attorney to determine the nature of the alleged violation, and to file an appeal with the bank’s internal compliance department. There are usually strict deadlines to follow and you may be prevented from filing a lawsuit if you have not... View More

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3 Answers | Asked in Banking and Real Estate Law for New York on
Q: If there is a sole borrower on a mortgage, but multiple on deed is it legal for the borrower to be removed from deed ?

A father bought a house. Signed a portion of the deed over to two children causing 3 people to be on the deed but dad was sole borrower in mortgage . Dad gets sick … kids removed him from deed without his knowledge but he is sole borrower on mortgage. Will bank holding mortgage have an issue... View More

Peter J. Weinman
Peter J. Weinman pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Apr 3, 2023

Absent some sort of fraud, there is no way the two children could have removed their dad from the deed without his knowledge and consent.

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I'm not your lawyer, and unless you retained me, this answer is for informational purposes only. You should consult with an...
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1 Answer | Asked in Criminal Law, Family Law, Banking and Domestic Violence for New York on
Q: My spouse withdrew 11grand out of joint account, without me knowing now and won't say what did with it? Legal or what

He left home over next few days withdrew money from joint account I have no idea what he did with the money he's not speaking to me he also stopped his paychecks from being deposited into account. Is it illegal we are not separated or divorced he's not even giving me money for our son or... View More

Howard E. Knispel
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Howard E. Knispel
answered on Mar 28, 2023

"Illegal" presumes criminality. If the account was a joint account, it was not illegal. But you need to start a divorce action right away. You can ask the court to have him pay some of the money back. You can also get child support or spousal support. See a local matrimonial attorney right away.

1 Answer | Asked in Contracts, Banking and Securities Law for New York on
Q: Can you purchase shares of a private Company on the Secondary Market but NOT disclose the purchase to the Company?

In other words, does the Seller of the shares have to disclose the sale to the Company, inclusive of who the Buyer is?

Mathew Paulose Jr.
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Mathew Paulose Jr.
answered on Mar 6, 2023

Greetings. It appears you would like to purchase shares of a non-public company. A purchaser who meets the SEC definition of a qualified purchaser may buy shares of a non-public company. Often brokers are required to facilitate the purchase. Due diligence is also required. During the due... View More

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