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Questions tagged [banking]

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

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2
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1answer
100 views

Can I sue an at Will employer?

I work in Minnesota which is an at will state at a nationwide banking institution. I was hired in June and was told I would be doing the work of what I now know to be a site in a different state. To ...
3
votes
1answer
48 views

Declining Binding Arbitration of credit cards and banks (after sign up)

Recently Chase was making a change to its user agreement and was automatically assuming your consent to abide by binding arbitration unless you opted out explicitly by sending them a snail mail with a ...
0
votes
2answers
99 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 ...
2
votes
1answer
92 views

Can I cashout 25 BTC without proof of provenance?

Back when Bitcoin was worth under 10 USD, a friend sent me 25 BTC as a gift. Since that time, I moved them around different wallets and don't believe I still have the original wallet where I received ...
0
votes
1answer
99 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 ...
3
votes
1answer
320 views

Credit union holding car note, refuses to provide details of how payments have been applied

A credit union financed a car note for me. I never knew them before the loan transaction and I only have the car note there. Recently, my payments seem to not lower my loan balance as much as it ...
-2
votes
1answer
121 views

Can I sue the bank that allowed a wire scram to go though without my authorization

My son was scramed on the computer by allowing access to his computer to uninstall a program .The company was going out of business , so they offered a refund . there was a glitch on the computer and ...
11
votes
2answers
3k views

Can a landlord force all residents to use the landlord's in-house debit card accounts?

[asking regarding state law in Ohio, U.S.A. only] Recently I have noticed landlords issuing their residents a debit card with attached bank account. This is typically implemented without prior notice ...
3
votes
1answer
244 views

Can an employer force all employees to open bank accounts in the employees' names?

[asking regarding federal law in the U.S.A. only] Recently I have noticed low wage employers such as fast food and retail requiring employees to open a bank account through the employer. Such ...
1
vote
1answer
49 views

Locked out of my own 401k/IRA [closed]

I had a 401k plan with a company that I left several years ago and since went out of business and so their 401k plan was rolled over into a generic IRA plan. I want to roll the IRA over into the ...
0
votes
3answers
142 views

Legal options for someone going through my bank statements

So I live at home with my mother and brother. I pay rent, comparatively not much but the amount was agreed upon. The other day I got home from work to find out she had not only gone through my bedroom ...
0
votes
1answer
133 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
votes
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 ...
3
votes
3answers
2k views

Do I have any options if Chase has closed my account citing payment from fraudulent sources?

A few weeks ago I received a $125 Chase QuickPay from someone on the site localbitcoins.com. Turns out the payment was marked fraudulent, and my account was frozen, whether it was because the user was ...
1
vote
1answer
159 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 ...
0
votes
0answers
25 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?
3
votes
1answer
391 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 ...
-1
votes
1answer
44 views

Unauthorized use of checking account

Can a friend legally write checks and use debit card on my account without authorization?
0
votes
1answer
41 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 ...
1
vote
2answers
196 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” ...
0
votes
1answer
51 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 ...
0
votes
1answer
122 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 ...
1
vote
0answers
79 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 ...
1
vote
3answers
243 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 ...
4
votes
2answers
232 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 ...
1
vote
0answers
50 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 ...
0
votes
1answer
62 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 ...
0
votes
1answer
43 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, ...
0
votes
1answer
46 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 ...
1
vote
1answer
46 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 ...
-1
votes
1answer
159 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, ...
1
vote
1answer
331 views

Proving relationship to deceased

My brother in law died recently, we had very little interaction with him in the past 4 year. He himself was a guy from countryside Lithuania and not a very technology educated. He lived for past four ...
0
votes
1answer
173 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 ...
1
vote
1answer
762 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
votes
1answer
573 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 ...
5
votes
1answer
165 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 ...
0
votes
1answer
1k 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 ...
1
vote
2answers
822 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 ...
3
votes
1answer
126 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 ...
0
votes
1answer
114 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 ...
1
vote
1answer
68 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 ...
1
vote
0answers
45 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 ...
0
votes
1answer
43 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 ...
1
vote
1answer
9k 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 ...
1
vote
1answer
65 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 ...
1
vote
1answer
90 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, ...
1
vote
2answers
256 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 ...
1
vote
1answer
52 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, ...
2
votes
1answer
2k 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 ...
1
vote
1answer
530 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 ...