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Florida Banking Questions & Answers
2 Answers | Asked in Banking, Civil Litigation, Consumer Law and Gov & Administrative Law for Florida on
Q: what are my options once contract signed for car loan process, same day dealer drop price and continued advertising new

After singing and in processing used car loan agreement contract, in the same day local tampa bay dealer drop car price continue advertising price drop. Am I entitled to new car price drop, even loan contract signed,send forbank approval?? what are my options. Thanks,

Bruce Alexander Minnick
Bruce Alexander Minnick answered on May 27, 2020

The (amazing) fact that the dealer lowered the price on the same used car that you were purchasing that same day has nothing to do with your transaction. The written contract you signed was complete when signed.

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3 Answers | Asked in Banking and Collections for Florida on
Q: Since 2016 my loan payment has been made (accidentally) from a stranger's account within my same credit union.

They called today and said they just realized this. I have been getting notices every month saying the payment was made. But now they tell me I wasn't making it and want me to pay it all back. I'm devastated. I need a new car and will have to make two payments. I have lots of out going... Read more »

Barry W. Kaufman
Barry W. Kaufman answered on May 5, 2020

What's your question? In round numbers, somebody paid 36 months of your loan payment, and in 36 months you never realized that the payment wasn't coming out of your account? Yes, you need to pay it back. You never paid it in the first place.

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1 Answer | Asked in Banking for Florida on
Q: Is a bank allowed to pay a commission to someone who is not a mortgage broker for the referral of a CRE loan?

Referral of a commercial real estate loan?

Bruce Alexander Minnick
Bruce Alexander Minnick answered on May 1, 2020

There are not enough facts for any lawyer to answer your question. You will need to tell us WHO the person allegedly doing the referring is (not their name) and what is your interest here?

FYI generally: Banks are allowed to "pay commissions" to most any source actually referring...
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2 Answers | Asked in Banking for Florida on
Q: Can an overseas bank, United Investment Bank UAE, request $35,000 for Non Resident Tax in order to release the funds?

I am assisting a friend who has an inheritance of 14.5 million and is unable to transfer her funds to her SunTrust account.

Terrence H Thorgaard
Terrence H Thorgaard answered on Apr 26, 2020

For that kind of money, she should seek the services of an attorney knowledgeable in international banking.

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1 Answer | Asked in Banking and International Law for Florida on
Q: How to make bank statement from US bank valid for use by a foreign government (proof of sufficient income)?
Tim Akpinar
Tim Akpinar answered on Apr 23, 2020

As a general matter, a bank statement could be considered a valid document for any number of purposes - having a bank account at a certain bank, proof of conducting transactions at a bank, proof of revenues or expenses, etc. It could depend on what the government requires as a form of proof - pay... Read more »

1 Answer | Asked in Banking and Civil Litigation for Florida on
Q: So I am still current. Was informed it would have no negative effect. I even Called to cancel Still it was reported

Since it was reported and new refinance lender found it reported they withdrew closing.

Was I not negatively affected?

Can I pursue?

Charles M.  Baron
Charles M. Baron answered on Apr 10, 2020

Your inquiry is incomprehensible. You seem to be assuming that those viewing your question can read you mind and know what you are current on, what was supposed to have no negative effect, who said that, what you canceled, what was reported to whom, and whom you wish to "pursue".

1 Answer | Asked in Consumer Law, Real Estate Law, Banking and Civil Rights for Florida on
Q: COVID 19 Reporting to Credit Agency and Negatively affecting borrower after being promised it would not be.

A lender reported to credit agency during COVID 19 Forbearance. It negatively affected a refinance and canceled closing. I was informed it would not be reported and would not negatively affect us in anyway since we are current. Did they break law reporting it and affecting my refinance that was... Read more »

Richard Paul Zaretsky
Richard Paul Zaretsky answered on Apr 10, 2020

From the Consumer Finance Protection Bureau:

Credit reporting under the CARES Act

The recently passed Coronavirus Aid, Relief, and Economic Security (CARES) Act places special requirements on companies that report your payment information to credit reporting companies. These...
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2 Answers | Asked in Banking and Real Estate Law for Florida on
Q: a loan servicer wrongly reprted to a credit beareu during Covid 19 forbearance and created a loss of refinancing? Help?

A lender reported to credit agency during COVID 19 Forbearance. It negatively affected a refinance and canceled closing. I was informed it would not be reported and would not negatively affect us in anyway since we are current. Did they break law reporting it and affecting my refinance that was... Read more »

Bruce Alexander Minnick
Bruce Alexander Minnick answered on Apr 9, 2020

It is impossible to understand what happened here because you are using terms and phrases that are unclear. Suggest you take all your papers to a lawyer in your area and let them figure it out and possibly help you.

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1 Answer | Asked in Banking, Business Law and Civil Litigation for Florida on
Q: Bank provides multiple incorrect account numbers resulting in no income for two weeks and $100 in wasted stationary.

I opened a business checking account and was provided with an account number over the phone. I gave this to my credit card processor. I later found out this account number was one digit two short. My CC processor asked for a letter from the bank to unfreeze my bank account. They provided that... Read more »

Bruce Alexander Minnick
Bruce Alexander Minnick answered on Mar 23, 2020

Find another bank.

1 Answer | Asked in Banking and Securities Law for Florida on
Q: How serious is it if somebody who has a series 7 license opens an account in my mine and then cashes out the profits?

I have discovered that my spouse forged my signature to open an investment account in my name and then cashed out and I don't know where the money went. Is this something I should report to his employer? The company in which is opened the account?

So far I discovered he opened an... Read more »

Bruce Alexander Minnick
Bruce Alexander Minnick answered on Mar 11, 2020

This is called stealing. And if the person who did the stealing is a licensed security salesperson there are several more crimes being committed. You need to START with the company; and you must tell them everything--not just the stuff you do not like.

2 Answers | Asked in Banking, Business Law and Insurance Defense for Florida on
Q: work comp insurance thru a payroll company.

Hello I have a small business with a work comp insurance thru a payroll company. I had a injured worker and the payroll company was paying the injured working. Without telling me the payroll company started paying the injured work thru my bank account. The total they have taken out of my account... Read more »

Bruce Alexander Minnick
Bruce Alexander Minnick answered on Mar 10, 2020

This may not be the advice you are seeking but I am giving it to anyway--because you really need it:

The main difference between successful small businesses and those that fail within a relatively short period of time is good legal advice. The owners of most successful small businesses...
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1 Answer | Asked in Banking for Florida on
Q: I was over charged at closing by $60,000.00. It took five months to get it from my bank. Am I entitled to interest?
Bruce Alexander Minnick
Bruce Alexander Minnick answered on Mar 10, 2020

Not from the bank; why? Because the bank did not cause you to lose any interest. If you want to recover the interest you "lost" you will have to try to get it from the buyer, or the Realtor or the Title company. BTW: The interest earned on the $60,000 during the 5 months will probably... Read more »

1 Answer | Asked in Banking, Consumer Law and Real Estate Law for Florida on
Q: In Florida can you get a mortgage in one name and have joint ownership on the deed?

We are not married.

Seril L Grossfeld
Seril L Grossfeld answered on Mar 2, 2020

Although this is possible, the lender would probably want both title holders to execute the mortgage, which agrees to the lien being on the property and only one of the owners signs the promissory note associated with the mortgage which is the agreement to pay the money secured by the mortgage lien.

1 Answer | Asked in Banking for Florida on
Q: Cost of legal power authorizing my sister in law of decision making on my car account back in Puerto Rico.

I am currently living in Orlando Florida and I have a car that I owe in Puerto Rico and someone is interesting in buying. I cant travel now because I am not working but I left my sister in law in charge of my stuff by mouth. The bank requires a legal power so I don't have to travel.

Terrence H Thorgaard
Terrence H Thorgaard answered on Feb 17, 2020

You need, if I understand you correctly, a power of attorney sufficient to enable your sister in law to transfer ownership of the car to a buyer. Contact the Puerto Rican agency responsible for keeping track of vehicle titles (Department of Motor Vehicles, or whatever) and ask if they have an... Read more »

2 Answers | Asked in Banking and Estate Planning for Florida on
Q: My FIL is going to an assist living in Fr.Myers, they are asking for all financials & stocks is this ok. & should move $

Should we move his money to another Acct and do we have to give stocks information.

Nina Whitehurst
Nina Whitehurst answered on Jan 13, 2020

It sounds like the ALF wants the financial information either to confirm that he is able to pay privately or to determine whether he will be eligible for Medicaid. Either way, you should schedule a consultation with an elder law attorney in your area to discuss Medicaid planning. The folks at the... Read more »

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3 Answers | Asked in Banking for Florida on
Q: If I open a bank account in distance(online) then (whenever) do I have to go to the bank myself one time so I can use it

I mean is there a need going a bank personally. Name of the Laws or codes please

Phillip William Gunthert
Phillip William Gunthert answered on Jan 9, 2020

No there is not, many banks are online only or allow you to bank from a distance, a couple that come to mind right off the to top of my head are BBVA and Capital One, I am sure there are an abundance of others, the only reason anyone would request an in-person visit would be if some specific... Read more »

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1 Answer | Asked in Banking, Bankruptcy, Employment Law and Employment Discrimination for Florida on
Q: Can I lose my Mortgage License if I have to file BK 13?

I have been a Mortgage broker for 14 years.Unfortunately I need to do a BK 13 for an unrelated business. Can I lose my license?

Timothy Denison
Timothy Denison answered on Nov 25, 2019

Probably not unless the 13 filing is occasioned by some wrongdoing or otherwise.

1 Answer | Asked in Banking for Florida on
Q: My bank owes me $50 and its been a year. They keep giving me the run around. What are my options ? Can i gain interest?

Bank suntrust

Bruce Alexander Minnick
Bruce Alexander Minnick answered on Nov 14, 2019

You have several options--none of which include suing SunTrust Bank for $50.

If SunTrust charges service fees on your accounts consider moving all of them to another bank that does not charge service fees. That switch alone will get your $50 back in no time, plus it will deprive SunTrust...
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1 Answer | Asked in Banking, Contracts and Small Claims for Florida on
Q: What is the statute of limitations on a breach of contract claim from a bank in Tennessee and Florida?

A national bank from an account in Tn in 2010 claimed Breach of Contract from overdraft/late fees on an account that was thought closed. In 2012, the bank sold the debt to a collections agency. Now, a (different) collections agency is attempting to collect on the debt plus huge amounts of interest... Read more »

Bruce Alexander Minnick
Bruce Alexander Minnick answered on Nov 14, 2019

Either two, three or four years. So if I were you I would work within the two year possibility.

1 Answer | Asked in Banking for Florida on
Q: Ca i go to jail if someone deposits 9000 in my account and i withdraw it and the bank freeze my account
Bruce Alexander Minnick
Bruce Alexander Minnick answered on Nov 12, 2019

Hello: If you took any money that did not belong to you that is called stealing. It does NOT matter who put the money in your account; nor does it matter whether the check they deposited bounced or was fraudulent. So, unless you want to see big trouble coming at you my advice is to give the $9,000... Read more »

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