Legal Question in Banking Law in New York
Fraud
Dear Sirs:
My company had signed a contract with a Bank for Credit Card Processing. The contract had been changed by the bank after beeing signed by us. The information changed by the bank ( lower annual sales volume, etc. ) resulted in Thousands of Dollars in penalties and fees. Bank refuses since 4 months to discuss. Have withdrawn authorization to deduct penalties and fees from our account, unless issue is resolved, no answer but bank continues to deduct fees.
As far as we're concerned, bank has comitted breach of contract, fraud and theft and we seek legal advise for reimbursement and possibly punitive damages.
Thank you.
1 Answer from Attorneys
Re: Fraud
Without seeing the original contract that you signed with the bank, it certainly seems inappropriate for the bank to unilaterally change key terms. Typically, contracts provide that they cannot be altered unless done so in writing signed by each party. Unilateral revisions, such at the type that apparently happened here, are not effective and cannot bind the non-revising party. I would be happy to discuss this with you further.
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