cooperation from bank
Date: Thu, 05/10/2012 - 14:54
Hello,
I have corresponded with my bank regarding revocation of ACH for illegal payday shops. Their response was "We cannot do that on our end. You will have to deal with the payday cos yourself. " I referred to them the state's payday laws and my right to do this, however, they still have held to this line. I spoke to a manager of the bank.
What is my legal right to do this?
thanks,dhl:(
I have corresponded with my bank regarding revocation of ACH for illegal payday shops. Their response was "We cannot do that on our end. You will have to deal with the payday cos yourself. " I referred to them the state's payday laws and my right to do this, however, they still have held to this line. I spoke to a manager of the bank.
What is my legal right to do this?
thanks,dhl:(
You are approaching this from the wrong angle. You need to give
You are approaching this from the wrong angle. You need to give your bank copies of the ACH revocation and they must honor it under federal law Reg E. Using the approach that the loans are illegal is irrelevant to them....you have to use the FDIC laws.
Do NOT correspond with your your bank on this. You need to be going into a branch with your paperwork and talk to a branch manager.
