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Tell the CU to reverse it and explain why. If you applied for other Internet payday loans since you acquired the account at the CU, just to let you know that online lenders share information.

Thanks for your response. I called my bank and she said I would have to file a police report because it's over $300.00. I'm confused would it be fraud because I never gave then that bank information

Thanks for responding. Ok I took out a new loan with my new checking account. Loanshop said that's how they got the account numbers. Credit union said anything over 100.00 I have to file a police report. The loanshop is saying they did nothing wrong but here's the thing I only owe another $150.00 from loanshop they took out 400 and said they are taking another 485.00. is there anything I can do??

So does anyone know if the loanshop is legal in pa

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Here is the EFTA law, print it out and take it into the bank with you. My suggestion is that you go somewhere else and open a new account, then close that one.

[QUOTE]Electronic Funds Transfer Act

907. Preauthorized transfers

(a) A preauthorized electronic fund transfer from a consumer's account may be authorized by the consumer only in writing, and a copy of such authorization shall be provided to the consumer when made. A consumer may stop payment of a preauthorized electronic fund transfer by notifying the financial institution orally or in writing at any time up to three business days preceding the scheduled date of such transfer. The financial institution may require written confirmation to be provided to it within fourteen days of an oral notification if, when the oral notification is made, the consumer is advised of such requirement and the address to which such confirmation should be sent.
(b) In the case of preauthorized transfers from a consumer's account to the same person which may vary in amount, the financial institution or designated payee shall, prior to each transfer, provide reasonable advance notice to the consumer, in accordance with regulations of the Board, of the amount to be transferred and the scheduled date of the transfer.

[Codified to 15 U.S.C. 1693e]

[Source: Section 907 of title IX of the Act of May 29, 1968 (Pub. L. No. 90-321), as added by title XX of the Act of November 10, 1978 (Pub. L. No. 95-630; 92 Stat. 3733), effective May 10, 1980][/QUOTE]

CLICK HERE to find out how to deal with illegal lenders.

HI
OK MY bank is saying they can not do anything because they are a contract loan company. I closed my bank but I want my money back They took out double of what i owed. Never sent a valadation either.

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