Rhode Island Banking Questions & Answers

Q: My cousin fraudulently opened a bank account in my name in 5/16 has the statue of limits already exceeded for acivil cas

1 Answer | Asked in Banking, Civil Litigation and Identity Theft for Rhode Island on
Answered on May 27, 2018
Neville Bedford's answer
Lot of questions here - Were you under a conviction whilst in jail? (then you may have been civilly dead under the law) That will have some impact on the analysis. When did you discover the identity theft ? Did you file a police report? Put a lock on the three credit bureaus ? Was she prosecuted? convicted? Was restitution ordered? If you wish to hire and pay private counsel to press the civil action, you should make sure you get it filed less than three(3) years after the incident (or since...

Q: RI Statute 19-9-2 does not appear to provide an exemption for federally chartered banks.

1 Answer | Asked in Banking and Consumer Law for Rhode Island on
Answered on Jan 22, 2017
Neville Bedford's answer
Chasing the prevailing .04% rate will likely cost many times more than it is likely to yield.

Double check to make sure YOUR bank is not EXEMPT.


Financial institutions


Community Obligations and Banking Offenses

SECTION 19-9-2

§ 19-9-2 Escrow accounts – Interest.

(a) Every mortgagee holding funds of a mortgagor in escrow for the payment of taxes and insurance premiums with respect to mortgaged property...

Q: Are credit card banks required to return monies you charged to pay someone's bail but in fact we were being scammed?

1 Answer | Asked in Banking, Identity Theft and Consumer Law for Rhode Island on
Answered on Sep 19, 2016
Neville Bedford's answer
I just reread the second posting of the same question. You were tricked BUT you legitimately purchased ITUNES cards. That is a problem. Contact the Itunes seller and see if they might be able to reverse those charges and cancel the cards. It is possible you may have no recourse as you were duped into believing that law enforcement is now accepting ITUNES payments. Much like the bitcoin - western union and other scams that are operating.

Q: Would credit card bank have to return money you charged to pay someones bail then found out you were scammed?

1 Answer | Asked in Banking and Consumer Law for Rhode Island on
Answered on Sep 19, 2016
Neville Bedford's answer
Contact your credit card companies dispute resolution department and let them know you would like to dispute these fraudulent charges. Report the scam to the attorney general's office to help protect others.

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