Legal Question in Appeals and Writs in Vermont

My bank made a mistake in my favor, now they say I have to pay them back. Their mistake their loss right? I didn't know it wasn't my money, they over drafted my account, taking it back without my permission, and I'm disabled, so, it's hurting financially, and emotionally.


Asked on 3/19/14, 6:59 am

1 Answer from Attorneys

Edward Hoffman Law Offices of Edward A. Hoffman

Your question isn't about appeals or writs, so you may want to re-post it under banking law. Having said that....

Your argument that the bank should pay for its mistake is incorrect. The money was never rightfully yours, so you have no claim to it. The bank was entitled to take it back. But if the bank's error caused other losses for you (not just in fees charged by the bank, but also penalties, etc. that third parties charged you due to bounced checks and missed payments), it may have to cover those losses. Whether it does will depend on a number of factors. One is whether you realized there was money in your account that shouldn't have been there. If you didn't, the next question will be whether you should have.

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Answered on 3/19/14, 11:37 am


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