Can I Sue My Bank for Their Mistake
Tin can I sue if my bank won't release my money?
It depends on the reason. But as consumer protection lawyers, we run into a common state of affairs where banks flag your business relationship for potential fraud for some reason and freeze information technology—merely then when you try to show who yous are, they run y'all in circles.
If your depository financial institution has frozen your money and won't let you evidence your identity in a reasonable fourth dimension, we may be able to help. Our firm helps consumers become access to their bank accounts using state consumer protection laws and a federal statute called EFTA (the Electronic Funds Transfer Act). If your depository financial institution is giving y'all the run-around for no good reason, telephone call us at 657-845-3100. We represent consumers in nigh cases we have on contingency, meaning we only charge a fee from the money we win. Nosotros don't charge for consultations and don't charge anything to do an evaluation of your case.
Bank accounts can go flagged for fraud for lots of reasons. Suspicious logins, or weird transactions, or fifty-fifty simply that you had trouble running your card and doubled upward buying something. Mayhap your identity got stolen. Possibly someone tried to hack your account. Peradventure you merely lost your wallet or lost your debit carte. If a bank thinks your business relationship might be at adventure for fraud or someone stealing your coin, they're allowed to flag the business relationship and take reasonable steps to protect your money.
BUT – they can't just lock you out forever. If you tell them to give you your money back and they won't, EFTA may let you sue. The statute awards the consumer between $100 and $1,000 every bit a penalty for a violation. We can also utilize land laws—for example, in Georgia the Fair Business concern Practices Act protects consumers from unfair practices. Belongings your money and not giving it back when you enquire isn't exactly off-white. In California, the Unfair Competition Law too lets yous sue to stop unfair business practices. And in Texas, the Deceptive Trade Practices Act does the aforementioned. Most states have similar laws.
The state of affairs nosotros oft see is that banks have outsourced all their customer service, or fifty-fifty want to do it using automated telephone systems. Trying to get a existent person on the line is like pulling teeth. And when you do, they transport you lot around in circles to other departments. You could send in proof that y'all're the owner of the account, so still be waiting for weeks to go to employ your money once more. We've seen people waiting months , even though they've proven who they were, and the banking company all the same won't give them their money. They're caught in their ain red record and often they simply don't care.
That's a huge deal for regular consumers. How are you lot supposed to pay your bills if your bank won't let you lot use your money? This could ruin your credit, cause lots of stress, and even lead to repossessions or the ability getting shut off.
If you lot've sent your bank proof of your identity and proof that you're on the bank account, and they're refusing to let you access your account anyhow for long periods of time, y'all may have a merits.
Can I file a lawsuit confronting my bank?
You may take to exercise something called arbitration instead. Almost every company in the country now forces their customers to go to arbitration and non to court. It's buried down in the contract somewhere you'd never look – but courts have upheld it anyway. But that's non the stop of the earth. Our law firm is experienced in filing arbitrations confronting financial institutions who mistreat their customers. And an arbitration is basically a "mini-lawsuit." There's a long rulebook and the lawyers nowadays your example to an arbitrator, non a approximate.
Most banks nosotros meet have some kind of arbitration clause. But our house has handled lots of arbitrations, and our lawyers know how to win. Studies show that consumers rarely win their example without a lawyer. But when you accept a "repeat player" like Kneupper & Covey – a house that arbitrates cases again and again – your odds of winning go up dramatically.
If your bank is taking weeks or months to let y'all dorsum into your account, even though you've given them the information they need, yous may or may non accept a legal claim, but we don't charge to evaluate your example and nosotros take about cases on a contingent fee basis, which means we only charge a fee if we have your case and we recover money. Phone call Kneupper & Covey today at 657-845-3100, or e-mail us at contact@kneuppercovey.com. Nosotros'll assist figure out if yous have a valid legal merits, and if so, where to file it.
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If you accept fallen victim to shady claims and advertisement tactics contact us today for a free evaluation of your case.
Source: https://kneuppercovey.com/can-i-sue-if-my-bank-wont-release-my-money/
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