Summary
You may have grounds to sue a bank in California if they do not follow their deposit and funds availability policy. Document all communications, gather evidence of financial harm, and review the banks policies. Contact the Consumer Financial Protection Bureau (CFPB) to file a complaint.Full Conversation
California
In California, banks must follow federal regulations and their own policies regarding deposit and funds availability. You may have grounds to sue if they violate these rules.
Questions to consider:
- What specific policy did the bank fail to follow?
- Did you suffer any financial harm due to this failure?
I can help provide more detailed information based on your responses.
The funds availability portion of it they are supposed to make so much of the funds available for use but it's been * or six days and I know they cleared it I was on a three way call with them and the life insurance company's department when they spoke to the bank
In California, banks must follow the Expedited Funds Availability Act (EFAA) and their own deposit policies. If they didn't release the funds on time, you may have grounds for a lawsuit.
- Document all communications and delays.
- Consider any financial harm incurred.
Did you receive any written notice from the bank explaining the delay?
No written notice and now it shows it posted but the funds are still not deposited in my account yet
To proceed:
- Document all communications and details of the delay.
- Gather evidence of any financial harm.
- Review the bank’s funds availability policy.
Would you like information on how to file a complaint with the appropriate regulatory agency?
Yes
You might have a solid case if the bank violated its own policy and federal regulations. Here's what you can do next:
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Document all communications: Note dates, times, and the names of the bank representatives involved.
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Evidence of Financial Harm: Collect any proof showing the impact of the delay on you.
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Review Policies: Read through the bank's funds availability policy to identify specific violations.
To file a complaint, you can contact:
~Consumer Financial Protection Bureau (CFPB)
Phone: (*) *-*
Website: www.consumerfinance.gov
Would you like more details on the complaint process or need assistance with anything else?
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