Legal Question in Banking Law in California
banking laws
I have an account with my husband at a bank where I have a business loan, my husband is not on the business loan, the business loan is deliquent the bank took out money from the joint account with my huband to go towards the business loan. The business loan is under my name and my mothers name, it has nothing to do with my husband, can the bank legally do that?
Asked on 12/06/07, 3:29 pm
1 Answer from Attorneys
JOHN GUERRINI
THE GUERRINI LAW FIRM - COLLECTION LAWYERS
Re: banking laws
If you have provided the bank with permission to do this, then probably yes. I say "probably" because there may be issues with how it was done.
If you have not provided the bank with permission to do this, then no.
The more fundamental question is why keep money in an account at a bank to which you owe money? That is not practical.
Answered on 12/06/07, 4:28 pm
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