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I am an 18-year-old and had a joint account with my parent. My parent took over $500 from the account without my consent. Although the bank advised me to open a new account solely in my name, I did not give my parent permission to use the funds after turning 18, and there was no agreement regarding... View More 
answered on Feb 20, 2025
Banking law prevents you from suing the bank for honoring the request by a joint account owner for money from the account. I don't believe that a joint account owner commits a crime by taking money from the account that is legally his money. That leaves two questions: 1. Could you sue... View More
My Dad has a brain injury and my Mom is bad with paying bills. I am fine with being on their accts to help with finances. I want to make sure that if my Dad were to get into an accident or lawsuit that my being on their accts does not put me in a position to have someone come after my husbands... View More
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answered on Jun 2, 2024
Putting yourself on your parents' bank accounts can make it easier to manage their finances, but it does come with potential risks. If you are added as a joint account holder, you could be considered equally liable for any debts or legal issues associated with those accounts. This means that... View More
If a check meant to repay a loan is forged and cashed by the bank, who is responsible for reimbursing the account owner? The forgery was reported to the bank within 90 days, and an investigation is pending. There are photos of the forged checks showing a non-authorized signature.
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answered on May 15, 2025
In Michigan, if a check is forged and cashed, the responsibility for reimbursement typically falls to the bank, as long as the account holder reports the forgery within a reasonable time frame, usually within 90 days. Since you've already reported the issue and provided evidence of the forged... View More
I have separate accounts at Lake Michigan Credit Union, where my child's father also banks. His mother works there as a mortgage closer. I discovered through text messages on my child's father's phone that his mother has been sharing details about my bank account, specifically the... View More
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answered on Mar 24, 2025
Yes, what you've described is illegal. When a bank employee shares your account information without your consent for non-business purposes, they're violating several federal laws including the Gramm-Leach-Bliley Act, which protects consumer financial privacy.
Your situation is... View More
He won't press charges but my uncle wants to if he does what will happen to me
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answered on Feb 9, 2025
If your uncle decides to press charges, the legal consequences will depend on the laws in your state and whether they view this as fraud or theft. Since you were only 10 years old at the time, the court may see it as a juvenile matter. Most likely, they would consider your age and lack of intent to... View More
MSUFCU says I can’t pay my parent’s bill with my checking account unless the bill is under my name or I add them as an authorized user. What are my rights? Is this accurate? I have never heard of this.
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answered on Oct 11, 2024
You generally have the ability to pay someone else’s bills using your bank account. However, financial institutions like MSUFCU implement specific policies to ensure transactions are secure and authorized. Requiring the bill to be in your name or adding someone as an authorized user helps prevent... View More
I had $1400 taken out of my bank account without notice. The bank refused to investigate but said it was from the IRS. So I call them and it was not by them. Eventually I sued the bank. Today during mediation I discover it was really the Department of Treasury that did it and by a person I know. I... View More
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answered on Sep 21, 2024
It sounds like you're in a complicated situation. Since the funds were taken by the Department of Treasury and linked to someone you know, this may have turned into a matter of fraud involving that individual. However, your agreement with him and the circumstances surrounding the withdrawal... View More
Someone hacked my Bank of America account and fraudulently transferred $9,800 from my checking account to Mercedes Benz Financial Services in Illinois. Also, the hacker did a balance transfer using my Bank of America credit card for $5,200 at the same time, IP address, city and state. I contacted... View More
answered on Nov 14, 2023
Yes, there is a time limit to file a lawsuit. The exact time limit will depend on what causes of action you state (e.g., which consumer protection laws you invoke). It would be rare for the time limit to be less than a year, but acting sooner is always better.
This lady has strung me along and lied several times. I have all of her messages. I have the bad check.
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answered on Nov 12, 2023
In Michigan, if you've received a bad check, there are several steps you can take. Initially, contact the issuer of the check and request payment. If they fail to make good on the check, you can send a formal demand for payment via certified mail. Michigan law allows you to demand payment... View More
Someone hacked my Bank of America account and fraudulently transferred $9,800 from my checking account to Mercedes Benz Financial Services in Illinois. Also, the hacker did a balance transfer using my Bank of America credit card for $5,200 at the same time, IP address, city and state. I contacted... View More
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answered on Nov 5, 2023
To hold the bank accountable for the fraudulent transactions, you could consider filing a formal complaint with the Consumer Financial Protection Bureau (CFPB) and contacting your state's attorney general's office. You might also explore the option of initiating a lawsuit for the recovery... View More
I purchased a used truck in May 2023. As usual, I called the insurance company to add it to my policy on May 17, 2023, the date I purchased the truck. A couple months later, I received a letter from my bank stating that since they didn't receive documentation of insurance on my truck, that... View More
answered on Oct 17, 2023
A Michigan attorney could advise best, but your question remains open for three weeks. It isn't fully clear what caused the misunderstanding here - a local attorney could probably sort out better after reviewing the file in detail. But a financial institution can require insurance. Good luck
The current mortgage company acquired my loan a few years ago as the original lender sold it off. I have never been late, have a credit score of well over 800, paid extra over the years, and have 23 months until the loan will be satisfied. As such I have over 90% of the equity (even by the... View More
answered on Jul 11, 2023
What does your mortgage say? IF it says they can randomly require you pay for inspections, then yes, they can do what you describe. If it says they can force you to pay for inspections whenever work is done on the property that too is something they can do.
If it doesn't say that,... View More
answered on May 5, 2023
Not sure what you mean by "without affecting mortgage." It's not clear why it would matter to your mortgage whose names are on your bank accounts. In most cases a mortgage lender has no requirements of someone maintaining specific bank accounts while the mortgage is outstanding,... View More
Curious about starting a website like Nerdwallet or Bankrate.com, where we write articles about financial products/services and have affiliate links to personal loan companies, credit cards, insurance, investments, loans, etc. We wouldn't provide any goods/services ourselves, but would just... View More
answered on Apr 7, 2023
This is not legal advice.
Perhaps. There certainly are regulations that personal finance websites must follow when selling or promoting financial investments and tools. You may consider investigating whether or not the website is required to disclose any material connections or financial... View More
The company was not behind on payments and not out of formula on credit line, I cannot talk to our loan officer and bank attorney will not provide any info
answered on Jan 10, 2023
Not a lot of detail in this question. A lawyer will need a lot more to provide you with your best legal options. However, my suggestion would be to immediately file a complaint with the CFPB. Your bank will have to respond, and this action may allow for a resolution. To the extent you later file a... View More
Is it illegal to get negative items removed from credit and then use that updated credit report to apply for credit?
answered on Nov 4, 2022
Not necessarily illegal, and in fact that is or was a commonly-pushed strategy of credit repair shops. When you dispute an item, the credit bureau contacts the creditor for verification. If no verification is received timely, then the credit bureau is supposed to take it off your report. So the... View More
She wired to an unknown account $100K Is there a role the bank should have played to step in and check with a family member to check to see if she should be wiring that kind of money? She was duped by someone on the phone to send him the wire payment, and she did what this person told her to do.
answered on Aug 23, 2022
Unfortunately, no. A person is presumed competent until declared otherwise. That includes the right to make unwise decisions. The bank would have had no legal authority to prevent the transaction or to check with a family member.
This should definitely be reported to the police if it... View More
answered on Aug 13, 2022
I don't know that there is a good 'short' layman's explanation, but the closest I can come to is that if you have a judgment against you, a judgment creditor cannot execute against a piece of property that has a mortgage against it.
In other words, you can't avoid... View More
Apple cash information. I have proof that it was the target purchase that allowed the hackers to get my information. Do I have a case?
answered on Aug 4, 2022
You do against the hackers. But there's not enough information for other potential parties. Most transactions using Apple Cash are below $1,000 and it is likely you'll get your money back for fraudulent transfers. Have you contacted Apple, Target, and the bank behind Apple Cash? How do... View More
I’ve been actively making my monthly child support payments and I got a lump sum va disability payment. my bank held and took funds to send to my child’s mother via child support office .Is this lawful?
answered on Jul 8, 2022
Likely yes. First, your bank didn't do anything except comply with a presumptive lawful order issued by a court. Your issue is with the court, not the bank.
VA disability is considered income for child support purposes, and so is subject to garnishment.
I would suggest you... View More
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