Legal Question in Banking Law in California

Mistaken Bank Error

I have a joint savings account with my husband and a few weeks ago the same day we were to recieve a loan I recieve a bank error in the amount of $12,000. The bank error must have stemed from when my husband deposited his paycheck that same day. I went to the bank and noticed the fund were there and figure our loan must have gone through. I withdrawled the cash and went an bought the car we intended to buy. When my husband got home he told me that the loan did not go though and was wondering how I had the car. Later we reviewed some bank reciept and figured out the bank put to much money in the account. I now do not have the funds to pay back but, would like to make arrangments too.

My question is:

How can I make this situation turn out to where I can pay back the funds?

Can I get in any criminal trouble?

Will this just be an outstanding account in the event I cannot pay?


Asked on 8/07/06, 6:09 pm

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

Re: Mistaken Bank Error

I doubt you committed any crime since you thought you were due to receive a loan. Maybe the bank won't catch the error and after three years the money is yours. If they do catch the error, you will owe them the money, but all they can do is sue you for it. If you hear from the bank don't speak to anyone but wait for notice in writing. Also, do not speak (by that I mean, -do not say anything at all-) to any law enforcement person without an attorney present. Meantime, maybe you should quietly get another account at another bank for your day-to-day banking.

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Answered on 8/07/06, 7:00 pm


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