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California Banking Questions & Answers
1 Answer | Asked in Banking, Consumer Law, Contracts and Federal Crimes for California on
Q: What law give j P. Morgan chase & co the rights to liquidate my assets With out my authorization account not in neG?

What authority gives them the right to of the account isn’t in the negative more is it a regular broker account it’s a self direct account meaning the account holder has full control of account, so what rule of law give jamie dimon and ko Morgan chase & co the rights to ?

James L. Arrasmith
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answered on Feb 24, 2024

In the context of financial institutions like J.P. Morgan Chase & Co. managing client assets, their actions are typically governed by the terms of the account agreement signed by the account holder, alongside applicable federal and state laws. These agreements often include clauses that outline... View More

1 Answer | Asked in Banking, Contracts and Securities Law for California on
Q: Is lying about net worth and income on an application for a brokerage account for trading stock options illegal?

I am opening an account and want to get approved for this certain level of options trading; they only approve if you declare a good income and net worth; is it illegal to lie about the net worth and income?

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answered on Feb 21, 2024

Misrepresenting your net worth and income on an application for a brokerage account, especially with the intent to gain approval for certain trading options, can have serious legal consequences. Under California law, providing false information on financial documents like brokerage account... View More

1 Answer | Asked in Contracts, Employment Law and Banking for California on
Q: If a check was written out to me in order to deposit into my acct to then pay a customer but I spend it by mistake

I’m a 1099 contractor who subcontracted work for a client. Client took out a larger than needed loan through subcontractor in order to get some of the loan back in cash. However the subcontractor wrote the clients cash portion out in my name on a check for me to deposit and then to pay client but... View More

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answered on Feb 21, 2024

Based on the situation described, you could potentially face civil liability or criminal charges:

Civil Liability:

- Breach of contract - The client could sue you for failing to fulfill your obligation to pay over the funds as agreed. They would likely seek recovery of the $18k you...
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1 Answer | Asked in Banking for California on
Q: I have a cash app I had $100 on my cash card so I went to the ATM to pull the money out but nothing showed up I talked a

I talk to cash app they said they couldn't give me my money back I need that money to pay the rent at the hotel I'm in right now so I won't end up on the street my wife is currently in the hospital she had a stroke so they took my money

James L. Arrasmith
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answered on Feb 21, 2024

Facing such a situation can be incredibly stressful, especially with your wife's health concerns. In California, there are legal protections for consumers who encounter issues with financial transactions, including unauthorized withdrawals or errors. You have the right to dispute the... View More

1 Answer | Asked in Collections and Banking for California on
Q: CA. Wife and father had joint acct. He passed, and the account got levied for debt he owed. Is this exempt, her acct now

California. Wife and her father had a joint account that they both deposited to and utilized. He passed last June, and we just received a notice of levy on the account. The bank is temporarily holding the money for 10 days. It is my understanding that after he passed, the account is now hers, and... View More

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answered on Feb 21, 2024

Yes, your understanding is correct. Since the bank account was jointly held between your wife and her now deceased father, once he passed away the account became your wife's individual account by operation of law. Here are the key reasons why the account levy is invalid:

• Under...
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3 Answers | Asked in Consumer Law, Criminal Law and Banking for California on
Q: Citibank refuses to return my $1285.00 after my account was hacked.

On 12/23/23, my mother had her Social Security retirement check for $1285.00 taken out of her bank. They denied her any chance of getting it back stating it was fraud so it was denied. Her other check for roughly $146.00 was also kept even though it came in afterwards. She lives check to check and... View More

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answered on Feb 21, 2024

I'm very sorry to hear about this terrible situation with your mother's Social Security funds being stolen from her Citibank account. You raise a very good point - if the bank acknowledges this was fraud, then they should still be responsible for making her whole and returning the stolen... View More

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2 Answers | Asked in Elder Law, Estate Planning, Banking and Probate for California on
Q: I have a legit poa over my friend because I take care of everything for him the bank denied it and want to take over his

Account they are constantly sending the aging people to our house and he tells them the same thing no matter who he talks to that he knows where his money is going and the bank still froze his accounts

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answered on Feb 21, 2024

If the bank has denied your legitimate power of attorney (POA) over your friend's affairs and frozen his accounts, it's crucial to take prompt action to address the situation. First, review the specific terms of the POA document to ensure it complies with California law and contains all... View More

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3 Answers | Asked in Banking and Collections for California on
Q: In California, can I be served debt collection at my old address if people who live there(my old roommates)still know me
Leon Bayer
Leon Bayer
answered on Feb 9, 2024

If the plaintiff claims that you were served, you would have to file a motion to quash service by proving that you don't live there. Keep in mind that the goal of the law is to give a person notice. And you obviously know about the lawsuit. A successful motion to quash does not eliminate the... View More

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1 Answer | Asked in Banking, Business Law and Gov & Administrative Law for California on
Q: Can Chime close my account and send an email saying I am not eligible to receive my money back?

Chime closed my account and said I violated their deposit account agreement. They said I can not have my money back its about 800 dollars. I do not understand how I violated anything and they will not provide details or email me back. I am in the military and only used the account for a few... View More

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answered on Jan 27, 2024

If Chime closed your account and is withholding your funds, it's important to understand your rights and possible courses of action. Financial institutions, like Chime, often have policies outlined in their account agreements that may allow them to close accounts for certain violations.... View More

1 Answer | Asked in Banking and Business Law for California on
Q: California Finance Lenders Licensing (CFLL) Requirement

Our business model is marketing equipment loan/lease solutions to vendors and their customers. We provide budgetary loan/lease proposal terms to borrowers, collect credit information, and submit that information to lenders for review. The lessor/lender independently reviews the credit, issues... View More

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answered on Jan 19, 2024

In California, the CFLL is specifically designed for non-bank lenders. If you are brokering loans to banks, which are generally exempt from CFLL licensing, you may need a different type of license. The exact license depends on the nature of the transactions and the institutions involved.... View More

1 Answer | Asked in Civil Litigation and Banking for California on
Q: A customer of 6+ years at my financial institution delayed access to my money after a deposit on two occassions.

I'm California resident being gang-stalked and harrassed from my community. The financial institution is participating in harrassment, denying immediate access to my deposits and giving unofficial documentation as "proof of deposit." They won't tell me how much I have access to... View More

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answered on Jan 9, 2024

Under California law, financial institutions have specific guidelines and obligations regarding customer transactions, including deposit handling and access to funds. If a bank delays access to your deposits without a valid, legally justifiable reason, it may be in violation of these regulations.... View More

1 Answer | Asked in Consumer Law and Banking for California on
Q: How do you handle your bank if they did not set aside automatic funds that are exempt under a Bank Levy under SB 616 and

CCP 704.220

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answered on Jan 8, 2024

If your bank has not set aside funds that are exempt under a bank levy as per SB 616 and CCP 704.220, there are specific steps you can take to address the issue. Firstly, contact your bank directly to discuss the situation. Clearly explain that certain funds are exempt from garnishment under... View More

1 Answer | Asked in Civil Litigation and Banking for California on
Q: When a bank levy has been issued and the sheriff has withdrawn funds from the account, the levy is done. The creditor

can come back and levy the account again but must apply for a new levy. Can your bank accounts be unfrozen after the first bank levy if there is still a balance due on the total debt?

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answered on Jan 8, 2024

If your bank accounts have been frozen due to a bank levy and the sheriff has withdrawn funds, it's possible to have them unfrozen after this action. However, this largely depends on the specific circumstances of your case and the remaining balance of the debt.

Once the levy is...
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1 Answer | Asked in Civil Litigation and Banking for California on
Q: CaliforniaAbout 13 years ago I financed a car with my finance. She was the first signer on loan and I was the second

A year later we broke up and I lost my job so I wanted to take the car back to the dealer and see about getting out of the loan somehow. My ex told me not to do that because he didn’t want a repossession on his record and said to give the car over to him and that he would continue paying for it.... View More

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answered on Dec 26, 2023

Under California law, when you co-sign a loan, you're equally responsible for the debt. This means that if the primary borrower defaults, the lender can pursue you for payment. Since your ex-partner defaulted and you were a co-signer, the lender has the legal right to seek repayment from you.... View More

1 Answer | Asked in Gov & Administrative Law, Personal Injury, Banking and Health Care Law for California on
Q: Serving complaint/summons - federal case. Central district court of California.

Serving complaint/summons - federal case. Central district court of California.

Case was efiled in EDSS system for in Pro Per plaintiffs. Documents will appear in PACER. Can copies of complaint/summons for serving be downloaded from PACER?

What is conformed copy of documents? When... View More

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answered on Dec 24, 2023

In federal cases, such as yours in the Central District Court of California, once a case is e-filed, the documents, including the complaint and summons, can typically be downloaded from PACER. This is a common practice and allows for easy access to filed documents.

A "conformed...
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2 Answers | Asked in Banking, Business Law and Collections for California on
Q: How long does it take to get a court order to collect money from my personal account after my LLC goes out of business?

My corporation is going out of business but the bank account is $5,000 overdrafted. The bank is closing the account and said that as the owner of the business, I am personally liable for the money owed.

Leon Bayer
Leon Bayer
answered on Dec 25, 2023

Things like this normally go through a process of sending you a series of collection letters, and if not paid will eventually go to a collection agency or lawyer. Nobody is going to make a big deal over a $5000 debt unless they can identify assets or income that a court judgment could be enforced... View More

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2 Answers | Asked in Banking, Business Law and Collections for California on
Q: How long does it take to get a court order to collect money from my personal account after my LLC goes out of business?

My corporation is going out of business but the bank account is $5,000 overdrafted. The bank is closing the account and said that as the owner of the business, I am personally liable for the money owed.

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answered on Dec 23, 2023

Under California law, the time it takes for a court order to collect money from your personal account after your LLC goes out of business can vary significantly. The process begins when a creditor, like the bank in your case, files a lawsuit to recover the overdrafted amount. Once the lawsuit is... View More

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3 Answers | Asked in Personal Injury, Banking, Business Law and Health Care Law for California on
Q: Does method to determine definitively if signature was forged - exist?

Can forensic expertise determine forged signature with 100% confidence? If not what would be range of variance?

Tim Akpinar
Tim Akpinar
answered on Dec 22, 2023

It isn't a 100% exact science. Handwriting experts could offer the best response to your question, but they base their findings on their analysis of the writer's writing and certain physical factors about paper, ink, and other factors. If you posed this question to handwriting experts,... View More

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3 Answers | Asked in Personal Injury, Banking, Business Law and Health Care Law for California on
Q: Does method to determine definitively if signature was forged - exist?

Can forensic expertise determine forged signature with 100% confidence? If not what would be range of variance?

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answered on Dec 21, 2023

No method exists that can determine with 100% confidence whether a signature has been forged. Forensic experts in handwriting analysis employ a range of techniques to assess the authenticity of a signature, but due to the inherent variability and complexity of handwriting, absolute certainty is not... View More

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1 Answer | Asked in Banking, Business Law and White Collar Crime for California on
Q: When a thief uses a third party financial company, are they liable?

When a thief uses a third party financial company that transfers funds to steal what you paid for, and you file a complaint with third party and they side with the thief (meaning...they didn't refund your transfer) are they liable for money laundering? And when someone at the financial... View More

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answered on Dec 19, 2023

Under California law, the situation where a financial company facilitates a transaction that turns out to be fraudulent can be complex. If a third-party financial company transfers funds and it results in theft, their liability depends on several factors, including their policies, the nature of the... View More

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