California | Banking Law
Legal Question
I was sent two checks from my auto insurance claims adjuster, one in the amount of $1000.00 and the other for $3910.00. I deposited both checks into my credit union checking account first thing the following day. On the same day I was able to withdraw the greater amount of the two checks without any problems, until that evening the teller called me and told me that a stop payment was issued on the amount I withdrew , but not on the grand left behind. I was totally unaware of this fact and now the bank is telling me that I am at fault and has put a hold on my account until further notice. I was told that the claims department from Liberty Mutual had notified me about the stop payment but this is totally false and pretty outrageous and insulting to me. I already sent my car to the shop and refuse to give my money back to the bank in exchange for an unfrozen account. Who is at fault here and what are some of my rights if overdrafts fees occur due to the freeze and inability to pay my bills that are due? Thank you for your time.
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Read More Answered By: Robert F. Cohen |
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