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New York Banking Questions & Answers
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... Read 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... Read more »

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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... Read more »

1 Answer | Asked in Banking for New York on
Q: Do you have to register as a check cashier if all the checks cashed are below $1000
James L. Arrasmith
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James L. Arrasmith pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Mar 2, 2023

The answer may vary depending on the state or jurisdiction, but in general, if you are cashing checks as a business or for profit, you may need to register as a check casher regardless of the amount of the checks being cashed. Some states have specific thresholds for when registration is required,... Read more »

1 Answer | Asked in Banking for New York on
Q: can i sue my bank for locking my bank account without my approval or confirmation or notificationnthat they are locking
Daniel Michael Luisi
Daniel Michael Luisi
answered on Dec 27, 2022

What you need to do is demand the bank send you the proper notification and exemption claim forms pursuant to the Exempt Income Protection Act. You need a legal demand letter citing to the proper laws and regulations and demanding the documentation including the notice of restraint and execution... Read more »

1 Answer | Asked in Banking and Collections for New York on
Q: Hello I received a check from Wells Fargo because a few years ago they messed up and car was impounded.

I have a letter that explains it not sure if I could get more money?

Tim Akpinar
Tim Akpinar
answered on Aug 25, 2022

The facts aren't fully clear here, but this sounds like it might involve a repossession action. Your question remains open for five weeks - you could try reposting and adding Banking & Collections as categories. There's no guarantee of a response - most attorneys would ask to see... Read more »

1 Answer | Asked in Banking for New York on
Q: Is it legal to use a fake credit card if i don't spend money on it
Tim Akpinar
Tim Akpinar
answered on Jul 10, 2022

It's probably best not to. An attorney who works in banking could probably give you detailed reasons not to, but anything fake or false like that in terms of credentials, ID, etc. is best to avoid. Good luck

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... Read 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... Read 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.

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... Read 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... Read 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 Estate Planning, Real Estate Law, Banking and Probate for New York on
Q: I am the beneficiary on my deceased sister’s POD bank account. Do I have the right to get a copy of bank statements?

The bank said only the executor of the estate can get it. Aren’t beneficiary accounts outside the realm of the estate and the executor? My sister lived in Arizona when she passed. I live in NY. The bank account is in South Carolina (where she used to live) The executor of the estate, a friend in... Read more »

Elaine Shay
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Elaine Shay
answered on Feb 24, 2023

Questions about Estate matters are controlled by the law of the State where the decedent resided at the time of death. Therefore, although you may live in New York, your question is better directed to attorneys practicing in the State of your late sister's residence.

1 Answer | Asked in Real Estate Law and Banking for New York on
Q: Can a bank claim escrow shortage but say you can't pay the entire shortage in full to raise payment

The bank is saying we're short in escrow $400 but also trying to raise our monthly payment by $8.78 saying we can't pay the entire shortage to remain at the same payment we have. We'd rather pay the $500 we're actually short to remain at the same payment but they're saying we cannot do this.

Elaine Shay
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Elaine Shay
answered on Feb 6, 2023

Generally, yes because the shortage indicates the current monthly payments you are making are not sufficient to meet the escrow obligation.

1 Answer | Asked in Banking, Business Law and Internet Law for New York on
Q: Stripe hold my money for 18 months already on my social media agency account and I need help releasing the money

About 5000$ in hold

Daniel Michael Luisi
Daniel Michael Luisi
answered on Nov 8, 2022

I would need to review with you the documents on your account dashboard for the reason for the hold. Depending on what my investigation uncovers we may issue a legal demand letter to the Stripe legal department.

1 Answer | Asked in Contracts, Divorce and Banking for New York on
Q: Car loan?

In June, 2022 I bought a new car. The bank wouldn’t approve me for a loan on my own so I had to have someone co-sign. My only option was my ex boyfriend. He co-signed for me but now he’s about to go through a divorce and is saying he’s going to put my car on the list of assets for his court... Read more »

Michael David Siegel
Michael David Siegel
answered on Oct 31, 2022

You are not going to get his name off unless you fully refinance. It is also his car for purposes of the divorce. There is nothing you can do but keep paying. If you pay, you cannot lose the car.

1 Answer | Asked in Criminal Law, Banking, Business Law and Identity Theft for New York on
Q: hi. My wife took an imposter to sign on my behalf at a check cashing place.

the check was deposited into an account ,she claimed the person who had the same first name and last name as me as her husband to cash out $2400 stimulus check in may of 2020,I came to find out about the check cashed in march 2021,Irs sent me a check copy in August 2021,I made a police report but... Read more »

Richard W. Noel
Richard W. Noel
answered on Mar 2, 2022

If I was in your situation, I would gather all of the information, hire a civil attorney, and sue her and the imposter for the amount of money stolen, as well as the cost for litigation. After filing the suit, I would also subpoena the place for footage of the transaction. Hopefully it still... Read more »

1 Answer | Asked in Family Law and Banking for New York on
Q: My son, who is incarcerated, gave me Durable Power of Attorney to cash stimulus check of $1400, can't get cashed

Citizens bank, where I have an account, will not allow me to cash it or deposit the check even with the Durable Power of Attorney. My son marked on it for banking transactions, retirement benefit transactions and tax matters. I also have his state issued ID. I've been searching for other... Read more »

Peter Christopher Lomtevas
Peter Christopher Lomtevas pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Oct 27, 2021

Go to his bank, endorse the check by signing the back of the check "his name by your name, his agent" or "his attorney in fact" and bring the power of attorney with you. The bank should have no problem cashing it unless it is for a large amount, in which case you may need to... Read more »

1 Answer | Asked in Banking and Real Estate Law for New York on
Q: My spouse passed away. Both names on mortgage. My name primary. Do I need to change the mortgage contract?
Michael David Siegel
Michael David Siegel
answered on Sep 3, 2021

No. Just keep paying. If you are both on deed, same answer. If not, you may need to do an estate proceeding.

1 Answer | Asked in Banking and Probate for New York on
Q: Person not participating in inheritance procedures.

My brother refuses to be involved in signing papers needed regarding my fathers estate. My mother’s bank accounts are frozen and they have a house in PR. Also my father sold his car to his brother in PR before dying but no title was signed my brother refuses to sign an affidavit giving up his... Read more »

Elaine Shay
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Elaine Shay
answered on Aug 2, 2021

If a required family member will not sign waivers, the party seeking to file the Petition for Probate or Administration will be required to seek the service of Citations from the Court.

1 Answer | Asked in Banking, Insurance Bad Faith and Insurance Defense for New York on
Q: what to do if my bank refuses my father's life insurance claim?

My father's bank refuses to pay me by telling me that my father did not contributed the last months before his death without giving me any official paper or proof. My father contributed to this insurance for more than 30 years and it's a shame not to get any penny..

Tim Akpinar
Tim Akpinar
answered on May 9, 2021

I'm sorry for your ordeal that makes a difficult situation even more painful. It appears you've already requested records. It's difficult to offer step-by-step instructions here, as the next step could possibly require litigating the claim, depending on the situation. Reach out to... Read more »

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