New York Banking Questions & Answers

Q: I have a question regarding the rights of landlords to assign fees for the return of rent checks for NSF....

1 Answer | Asked in Landlord - Tenant and Banking for New York on
Answered on Apr 11, 2019
Elaine Shay's answer
The fees that a landlord is allowed to charge depends upon the terms of the lease.

Q: I have an idea for a Credit Card product that will solve a number of problems for Banks & Card Issuers. Can I patent it?

4 Answers | Asked in Copyright, Intellectual Property, Patents (Intellectual Property) and Banking for New York on
Answered on Mar 21, 2019
Ahaji Kirk Amos' answer
I can't tell you that you can patent your invention. You can patent an invention that is patentable subject matter. It must be new, non-obvious and you must be the first to apply for a patent on the invention. You don't need a prototype so long as the invention is fully developed/designed.

Q: I won a settlement. My lawyer died and his son that took over cannot access his bank account how long do I have to wait

1 Answer | Asked in Personal Injury and Banking for New York on
Answered on Feb 28, 2019
Michael David Siegel's answer
Something is not right. You need to contact the bar and file a grievance. This is not how this works.

Q: about a stock purchased

1 Answer | Asked in Consumer Law, Banking, Collections and Stockbroker Fraud for New York on
Answered on Jan 2, 2019
Michael David Siegel's answer
It sounds like you were scammed. Call the Securities and Exchange Commission enforcement office and the FBI. Your bank has nothing to do with this. They just sent a wire to a place you ordered. Am I missing something? The "company" you are dealing with likely does not really exist in a way a civil lawsuit would lead to recovery.

Q: I own a nyc wholesale business, I had a client who bounced several check in the amount of 200k usd

1 Answer | Asked in Banking for New York on
Answered on Nov 9, 2018
Michael David Siegel's answer
Only the DA can prosecute anything. You can make a criminal complaint for the bounced checks, but it is very unlikely to be acted upon. You can sue in Supreme Court for damages, but that is really it.

Q: Can a bank take funds for offset if the money was withdrawn from a 401k due to financial hardship?

3 Answers | Asked in Bankruptcy, Consumer Law and Banking for New York on
Answered on Nov 5, 2018
Michael David Siegel's answer
Possibly. It depends on the timing of how it came down.

Q: someone if my family usemy checks and put them in a account and I didn’t press charges can the bank press charges

1 Answer | Asked in Banking for New York on
Answered on Oct 21, 2018
Michael David Siegel's answer
Yes, but if you cover the checks they will not. Who cares at that point.

Q: Acorns withdrew 1,000. Unauthorized.

1 Answer | Asked in Consumer Law, Contracts, Products Liability and Banking for New York on
Answered on Oct 5, 2018
Michael David Siegel's answer
I do not know what Acorns is. But you need to make a fraud complaint with the bank ASAP, and make a police report. You need to block this auto debit with the bank. Getting it back is problematic.

Q: My family house is in foreclosure the bank wants me to show my paystubs and my bank statements but they won’t match

1 Answer | Asked in Banking for New York on
Answered on Oct 3, 2018
Michael David Siegel's answer
There are ways of dealing with this. The bank is not the IRS.

Q: Is there any legal reason for banks to deny immigrants from opening checking accounts?

1 Answer | Asked in Banking and Immigration Law for New York on
Answered on Sep 8, 2018
Michael David Siegel's answer
Immigrants are not denied checking accounts. But you need a certain level of ID and a tax ID number to do so.

Q: money deposited into bank account

1 Answer | Asked in Banking for New York on
Answered on Aug 14, 2018
Michael David Siegel's answer
This is a common scam. It will not clear the bank, and she will be liable. DO NOT WITHDRAW ANY MONEY.

Q: Can a NY C Corp lend money to a MD LLC without breaking any laws?

1 Answer | Asked in Banking and Business Law for New York on
Answered on Aug 3, 2018
Michael David Siegel's answer
Yes, as long as the lending is to a known entity and not a solicited transaction. Then it is banking.

Q: Is it allowed to deposit foreign currencies into a US bank or do you always have to exchange it before depositing?

1 Answer | Asked in Banking for New York on
Answered on Jul 30, 2018
Michael David Siegel's answer
You must exchange it. Or have the bank do it. But all deposits must be dollar denominated.

Q: Hi, I've signed up for a MMA and they charged me 1809 for two months when others are charged 250 Signed a contract

1 Answer | Asked in Bankruptcy, Consumer Law and Banking for New York on
Answered on Jul 27, 2018
Jonathan David Warner's answer
I'm not sure I see how this relates to Bankruptcy... If you're seeking to determine whether this can be discharged in a bankruptcy case, the answer is likely "yes".

Otherwise, it seems to me that you signed a contract and that you're liable for whatever obligations you voluntarily signed up for.

Good luck with your case!

Q: i am separated from my spouse for 25years but sill married. can debtors take money from my bank for HIS medical bills?

1 Answer | Asked in Banking for New York on
Answered on Jun 6, 2018
Michael David Siegel's answer
While unlikely, under the "doctrine of necessaries", it is technically allowed for a creditor of medical bills to pursue you.

Q: In New York, is a transfer upon death of bank funds legal in all cases?

1 Answer | Asked in Banking for New York on
Answered on May 1, 2018
Michael David Siegel's answer
I am unclear what transfer you are asking about. It is "legal" if it was a pay on death account. However, that person might need to return funds to pay estate debt. If there are more debts than assets, do not create an estate.

Q: Can I bring Citibank to small claims court?

1 Answer | Asked in Banking, Consumer Law and Small Claims for New York on
Answered on Apr 15, 2018
Michael David Siegel's answer
You have not been damaged, so you have no case. You do not even get the $600 you claim should be written off. Just write a certified letter to the General Counsel for the bank saying what you said here.

Q: Can a bank refuse to accept a small estate affidavit to close a bank account of $3,000 saying it is their policy?

1 Answer | Asked in Estate Planning, Banking and Probate for New York on
Answered on Apr 4, 2018
Michael David Siegel's answer
The bank is right and you are confused. The small estate affidavit gets filed with the surrogates court to get what are called voluntary letters. It costs $1. The clerk will help you. You take those letters (which are a court order) to the bank.

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