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Questions tagged [banking]

for questions relating to the custody, transfer, and management of money by banks.

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32 views

Authorized Signature on a bank check to a customer

Does the person who is given permission to sign as the "Authorized Signature" (at the bottom of the bank check) have to sign exactly as the real Authorized Signer or just use one's own style to sign ...
4
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2answers
1k views

Bank is not depositing my promotion bonus

I opened a bank account in response to a promotion in a big bank (I'm in the US). Originally it was saying "if I keep my money (50K) for 60 days, I get $600". The agent at the branch didn't say ...
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0answers
17 views

What is the minimum required pre-provision net profit (PPNR)?

Is there a minimum required pre-provision net profit (PPNR) stated by Comprehensive Capital Analysis and Review (CCAR)? Or how else does the Fed evaluate stressed PPNR in its tests?
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1answer
40 views

Unauthorized use of checking account

Can a friend legally write checks and use debit card on my account without authorization?
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1answer
29 views

Is it legal to let overseas family member use my address for a bank account (US)?

I have a family member who is a US Citizen, but currently lives overseas. They want to open a US bank account and are asking me if I would be ok for them to use my home address for the account. In ...
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2answers
159 views

Can a US bank disallow a lawful permanent US resident from opening an account?

Can a US bank disallow a lawful permanent US resident (LPR) from opening an account? Definition of lawful permanent US resident: Lawful permanent residents (LPRs), also known as “green card” ...
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1answer
39 views

Under what circumstances can a banker cut your line of credit?

I was once offered, and accepted, a line of credit for X. Apparently, I violated the terms (I believe that I made a late payment), and my line of credit was cut in half. What is the legal doctrine or ...
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1answer
153 views

Bank of America fee Dilemma

I am an Australian citizen. Many years ago, whilst travelling on holiday to the US I signed up for a Bank of America e-banking account. It had no monthly fees and all was well. Every time I went on ...
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1answer
106 views

Is Bank responsible for protecting me from fraud?

I applied for a part time job on Indeed to be a “Secret Shopper for Walmart”. I took the bait and was sent a check for 2k and given an assignment to buy iTune cards at two Walmart and do a customer ...
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0answers
77 views

How can a country reclaim money held in Swiss bank(s)?

Suppose, a 3rd world country X had a corrupt/autocratic government in the 90's. Politicians embezzled a lot of public money and deposited them in various banks in Switzerland. In the 2010's, that ...
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3answers
196 views

How do concepts like intent, discrimination, and bias apply to an Artificial Intelligence agent?

Background I work at a financial institution in the United States and have been researching the regulatory impacts of Artificial Intelligence recently - specifically the simple purpose-specific ...
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2answers
175 views

Can a company legally disable a product on the basis it was acquired fraudulently?

I recently bought a product on eBay, that turned out to have been directly bought from the manufacturer with stolen credit card info. A couple months after the purchase, the hardware, which "calls ...
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0answers
42 views

Can a European bank mandate employees to have a deposit account into which salary is paid

Is this allowed under European law to mandate employees to open a local (i.e. same name) bank deposit account and claim salary will only be paid into that account internally? I suppose it must be ...
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1answer
87 views

Get access to an account of someone living abroad

My brother opened a bank account a couple of year ago in Utah , now he lives abroad and wants to get the money out. He does not have an online banking or a current debit card, only an expired one, but ...
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1answer
61 views

Which money transfer method is better?

To send money to as an investor to a startup, is it better, for proof of transfer in a possible court case in case of dispute, to write and mail a check or wire directly through banks? If I use the ...
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1answer
33 views

Deficiency judgement period after foreclosure in IL

A friend entered in foreclosure in 2014, for a condo in Chicago, IL (Chase Bank). Some time later he received a form 1099-C for cancellation of debt for around $9K. I know there's a deficiency but, ...
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1answer
39 views

What happens if someone bounces a cheque in US?

From my knowledge, if A gives cheque to B and cheque bounces, then a warrant is issued against A. Is the warrant issued anytime cheque bounces by default ? Or B has to press charges against A for ...
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1answer
44 views

Company wants to hold funds for customers

Are there any licensing or special bank account requirements for our company to hold funds for a customer and later deliver those funds back to the same customer? Similar to a savings account but for ...
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1answer
133 views

Why is the Federal Reserve allowed to “coin Money” and define exchange rates?

According the to United States Constitution Article 1 Section 8, The Congress shall have Power To coin Money, regulate the Value thereof, and of foreign Coin, ... But it is the Federal Reserve, ...
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1answer
130 views

Where is the rule guidance on implementing the Collin's amendment?

BACKGROUND The Dodd–Frank Wall Street Reform and Consumer Protection Act was signed into United States federal law by President Barack Obama on July 21, 2010. Section 171 known as the Collins ...
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1answer
510 views

Can a defendant get probation without being convicted of a crime?

I believe my friends are being scammed. I discovered this information on the person in question from a court case December 2017: DEFERRED ADJUDICATION Jury Waived. Defendant arraigned. Defendant ...
4
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1answer
279 views

Wrong name used on bank account

I know someone who was planning on legally changing their name to avoid detection by abusive family members. When opening a bank account she used her correct social security number, but used her ...
4
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1answer
139 views

Unauthorized access to bank account

Western Union processed an unauthorized withdrawal of $840 from my bank account, but the reversed the transaction. I am very concerned and a bit stressed out about this given all the security and ...
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1answer
74 views

Move money from Germany to Spain

I want to move money I earn working in Germany to Spain, where I am from. What should I take in account or be carefull to do during this transaction? I dont kow the minimum amount of money which I ...
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1answer
825 views

Will a US bank share any detail about immigration status of a customer?

I know undocumented immigrants can open a US bank account legally and that would come with some benefits for them such as having a credit score (useful for buying properties, for instance) and a ...
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2answers
694 views

Refund after robbery in a bank

If a bank happens to be robbed just after I withdraw money from my account, and the robbers make me hand over my money to them, am I entitled to refund from the bank? I know it may depend on the ...
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1answer
109 views

Do Bitcoin Banks Need a Banking License?

Or consider any currency with no intrinsic link to any other currency or form of capital (i.e. not backed by USD or Gold or anything like that), and note that the issuer/bank would not itself offer ...
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0answers
43 views

Bank accounts after leaving UK

I wonder what should I do with my bank accounts after leaving the UK. Is it legal or illegal if you still you account in the UK when you are living outside EU now - and if you are not an EU citizen ...
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1answer
115 views

How does the Bank Secrecy Act affect normal law-abiding citizens?

The Bank Secrecy Act of 1970 was designed to detect money laundering by organized criminals. Among other things, it requires banks to report large currency transactions in excess of $10,000 to the ...
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1answer
42 views

What are the relevant U.S. laws that cover businesses that disburse cash?

I'm interested in starting a business that sends customers rolls of quarters (and maybe at most 1-2 per week at most), e.g. for paying for laundry washing and drying machines. I'd like to be able to ...
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1answer
6k views

Legal options for unauthorized access to bank account (and how to prove it) [closed]

I've run into an unpleasant situation: https://money.stackexchange.com/questions/75965/mom-keeps-illegally-monitoring-my-bank-account-what-to-do. I was advised to move this question to legal. Could ...
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1answer
59 views

Can a retail marijuana shop bank from a locally owned bank outside of their state?

Retail marijuana stores have to deal in cash, as most major banks refuse to deal with them. This causes a very dangerous situation for the store owner, and stories are already circulating about the ...
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1answer
75 views

Is a power of attorney (in my parent's hands) enough to unfreeze a frozen US bank account?

If somebody has to move to Europe from the US, and cannot return, and then has his US bank accounts frozen: Can he give a power of attorney to his parents (European citizens, only European passport, ...
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2answers
188 views

How to deal with a cheque fraud in my Westpac (Australian Bank) account?

I sold bitcoins worth of $9500 to a person who told me that he made cheque deposit to my account by using SMART ATM of Westpac bank. When I logged into my Westpac, it was showing that $9500 was ...
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1answer
50 views

Are US banks required to notify users of debts before passing them to collections?

Say a customer of a large American bank, let's call him Paul, overdrafts on a debit card from said bank, let's call it ABC Bank. There is no notice of an overdraft at the time the money is withdrawn, ...
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1answer
67 views

Sending money from China

I have an uncle in China who is trying to make some investments in Canada. As you may know, there are foreign exchange controls in China, but everybody goes around them. One easy to do it is to match ...
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1answer
439 views

Is right of survivorship the same as tenants in common?

What are the practical differences between opening a joint bank account with one's spouse in these ways: Joint tenants Tenants in common Joint tenants with right of survivorship? I am concerned with ...
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1answer
60 views

Bounced Check and ADA

Assume a documented dyslexic person writes a check and transposes two numbers. The error is such that it results in a bounced check. Can that person use the Disabilities Act to collect damages from ...
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1answer
1k views

Can landlord require me to pay rent through ACH?

I'm undecided as to whether this question belongs here on in the Money & Personal Finance SE, so apologies in advance if it should be migrated. I'm facing a situation where my landlord had ...
3
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1answer
360 views

Can the Feds not put Bank Executives (or their employees) in Prison for Fraud?

I see stories such as this one quoted below where a Wells Fargo exec who headed phony accounts unit collected $125 million. Basically the notion is that big fat cat bankers can swindle people out of ...
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1answer
71 views

what is a banker's bank?

What is a banker's bank? I came across this term when I was scrolling through my research on banks. I came across this definition, that says that they are banks that service the charter banks that ...
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1answer
279 views

Felons Allowed Banking License & Right To Discriminate Against Other Felons?

Citicorp, JPMorgan Chase & Co., Barclays PLC, and The Royal Bank of Scotland are all American Felons. https://www.justice.gov/opa/pr/five-major-banks-agree-parent-level-guilty-pleas As a felon ...
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3answers
367 views

Is it legal for a bank to discriminate against someone by the services they offer based upon their marital status?

A bank is charging me this kind of fee: The fee is $0 if you have over a certain amount, or if you have $500 going in through a direct deposit each month. I don't meet these requirements, so I don't ...
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1answer
108 views

Can I use a loan for something other than what I said I'd use it for?

I'd like to purchase some grazing land. I'm half way there with the funds and thought of covering the remaining cost with a loan. This would be a personal loan from a UK bank and not secured against ...
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1answer
79 views

US bill traceable?

In my country (France) we have to be registered before changing € to $ USD with names, address etc... Is a US bill traceable? Can the authorities know with the serial number were the bill went, in ...
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0answers
65 views

What is the legal definition of an “as of” date in the banking world?

My American Express credit card account is being sold to Barclaycard because JetBlue was not able to "reach terms" with American Express. JetBlue has been sending communications via email that this ...
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1answer
186 views

What is required to open a bank in USA?

What requirements should I meet to start a bank in USA? What are the requirements in other countries?
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0answers
1k views

Questions about private mailbox address used for LLC in California

I recently created an LLC using a private mailbox to keep my home address private in public records (in California). I work from home so using my home address is not an option due to privacy concerns. ...
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1answer
91 views

Asking a bank to sign a contract?

I was given an opportunity to receive a $1,000.00 bonus for opening a bank account; however, the bank claims that they will "revert the bonus" if the account is closed within six months. The bank ...
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1answer
171 views

Is it legal for banks to transfer money without account holder's permission

Suppose someone takes a personal loan from a bank and defaults on a payment. Can the bank unilaterally take money from other accounts he may have at that bank to make the required loan payments? Can ...