Legal Question in Banking Law in Minnesota
stolen check, bank won't refund
I had 2 checks stolen and discovered the theft 6 months after they were cashed for $4000. I complied with the bank fraud unit and submitted the requested information. They rejected my claim on the basis of the contract specifying notification within 30 days of theft. A bank employee told me their employee violated their banks policy (negligence?) by not phoning me before cashing the checks at 2 of their branches. What would be effective to have them credit my account? Letter pointing out their error, letter threatening small claims court, attorney letter, going to small claims court? Its too small an amount to retain an attorney for much of their time. Also, perhaps you know of other means to influence a large bank, a meeting, call, etc. Thanks much!
2 Answers from Attorneys
Re: stolen check, bank won't refund
How do you know whether it is too small an amount to contact an attorney, particularly if you don't know whether you would be entitled to treble damages in addition to attorney fees.
Your major problem is that the bank gave you 30 days and it was WELL exceeded. Unless the checks were signed "mickey mouse," you may be out of luck. Spend the 30 minutes with an attorney and find out.
Re: stolen check, bank won't refund
Wow! You can lose $4K and not notice it, but you can't afford to spend some $ to skip/trace the check thief?the bank should not be your target--that ship has sailed.
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