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I am the newly elected Secretary-Treasurer of a nonprofit organization. Our board passed a resolution authorizing me to have signing authority on our account with Bank of America. When I went into BoA with a copy of the resolution, the banker informed me I needed to be added as an authorized user... View More 
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answered on Oct 2, 2024
It sounds like the bank is providing accurate information. Many banks require an existing authorized user to make changes to account signers, even if you have a board resolution.
To move forward, gather all relevant documents, including the board resolution, bylaws, and meeting minutes that... View More
answered on Oct 2, 2024
This is not my area of practice, but you await a response for a month. I recommend that you speak with professionals who work in the financial planning/advising/investment field. I believe there are licenses associated with securities, and there are various certifications out there held by... View More
One of my friends wanted to know if 12 USC 411 makes it the government's responsibility to pay back debts and loans given the wording "The said notes shall be obligations of the United States". They believe that because of this if they take out a loan they have no obligation to pay... View More
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answered on Aug 20, 2024
Your friend is misunderstanding the purpose of 12 USC 411. The phrase "The said notes shall be obligations of the United States" refers to the currency itself, meaning that Federal Reserve notes are backed by the U.S. government. This ensures that the currency is legal tender for debts... View More
All I can find is a proposed bill that will require individuals to be licensed but that has not passed.
answered on Aug 8, 2024
I've never heard of a license required for this. If attempted, it might be held to be unconstitutional.
Jack
During the epidemic, because I didn't pay the monthly car loan bill, then the bank forcibly towed my car away and sold it to other countries without any consent. After that, I repeatedly asked the bank to return the total amount of the car loan paid before the epidemic to more than 7,000 USD.... View More
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answered on Apr 21, 2024
In this situation, you may have grounds to take legal action against the bank, but it depends on several factors and the specific laws and regulations in your jurisdiction. Here are a few points to consider:
1. Notice and communication: The bank should have provided you with proper notice... View More
The business loan is not perfected against my home and does not reference my property directly.
answered on Jan 14, 2024
Yes, it's possible. It's in the discretion of the lender.
Jack
My bank is declining to do this. I see there is language in the statute that requires language in the modifications section of the POA that expressly provides this permission for already-existing accounts. However, I am opening a brand new account, and I interpret the language in the statute to... View More
answered on Jan 3, 2024
Very often banks refuse to comply with legal documents that they should honor. A POA is just one of them. Wrongfully, they will insist on a certified copy of a court order, submitted by an attorney.
Jack
I got a lawyer and paid off the full amount. I also took my son off the account. I still wish to do business with that bank because I have multiple building and business in that bank. How would this affect my business and my bank relationship. What are my next steps and what will happen?
answered on Dec 2, 2023
I'm not understanding what amount had to be paid off and why. If everything is now straightened out, what would be the issue of continuing with the bank?
Jack
The person is married and has children, lives in New York..
My wife’s mother passed away. We are not sure if her bank account had a beneficiary or did she have a will.
Her mother is legal married..
would happen to her bank account now that she is deceased?
What... View More
answered on Nov 15, 2023
Depending on the size of the account the wife needs to file an administration proceeding of some type.
In NYC, my Bank Acct Seized, No prior notice, seems I am exempt due to the CPRL and being a hardship case. Due to as listed in the CPRL's that 90% of all my , or any profits, are personal, and were in that acct. to do what i have been, put-there from personal money to Pay-Bills yet NO profit... View More
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answered on Nov 4, 2023
If you've already filed an Order to Show Cause (OTSC) and believe that CPLR 1012 applies to your situation, you can request permission from the court to amend the OTSC to include this additional statute. This request should be made as soon as possible and explain why CPLR 1012 is relevant to... View More
In May 2022, I invested $8M in a U.S. Treasury note, due in April 2024. I instructed my ETRADE manager to liquidate $5.6M for property buying. Unexpectedly, ETRADE initiated a $5.6M margin loan, leaving part of my investment intact. I discovered this during a routine review, not through direct... View More
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answered on Nov 4, 2023
In situations like this, you may have grounds to file a complaint for brokerage misconduct if E*TRADE acted contrary to your instructions and without your consent. It's essential to review the client-broker agreement and any written communication to determine if E*TRADE deviated from the... View More
He has accused her of fraud, removing her from her bank accounts, attacked her mother's current broker with a false report. She can no longer pay her Bills. Also, he is working with my mother's sister, lying to her about things my mother never said, and using my grandma, who my sister has... View More
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answered on Nov 4, 2023
Your mother should consider retaining an attorney experienced in elder law and financial exploitation cases immediately. This situation may involve complex issues like undue influence and financial abuse. An attorney can help navigate the allegations, work to protect her interests, and potentially... View More
I got a check from an insurance company and it was stolen and cashed and they told me after the investigation they would be able to tell me at exactly what branch it was cashed at. Now that the investigation is over and they gave me back the money they are saying they cannot provide me with the... View More
answered on Jun 10, 2023
Your question may have gone unnoticed under this heading. That's probably why it remains open. Some questions go unanswered, but you could try reposting under "Banking." Attorneys who are familiar with banking laws and operations would have the best insight into this. But as a... View More
My father dead two year ago.
I am in iran
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... View More
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... View More
answered on Apr 30, 2023
Usury might be a defense, along with enforceability of the note. Consult an attorney to evaluate your case.
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... View More
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... View More
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... View More
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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... View More
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... View More
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.
In other words, does the Seller of the shares have to disclose the sale to the Company, inclusive of who the Buyer is?
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... View More
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