Legal Question in Banking Law in California

I have a question you see my auto loan is with the same bank I do all my banking with and today I logged into to pay my bills to discover that they had already taken money from account to may my auto loan to them and caused a few pending items to bounce cause over draft fees and such but I did not authorize them to take any money from account can they legally do that

thank you


Asked on 7/31/10, 12:01 am

1 Answer from Attorneys
Michael Stone Law Offices of Michael B. Stone Toll Free 1-855-USE-MIKE

The following assumes you were late paying, or you defaulted on the loan. Yes, you did authorize them to take the money out of your account. Dig into your desk drawer and dig out your loan and depositor agreements. Read them.

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Answered on 8/05/10, 12:34 am


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