Legal Question in Banking Law in New York
Banking law
Is it legal for a bank to sell half of thier bank branchs to another bank and trasfer the money from our checking account into a new account at the other bank without our permission?
Asked on 11/08/08, 10:59 pm
1 Answer from Attorneys
Warren Markowitz
Warren R. Markowitz, Esq
Re: Banking law
No
The sale and transfer of bank assets does not require the permission of the depositors.
If you find yourself unhappy with the new institution, you simply need to close your account and move to another.
Answered on 11/08/08, 11:32 pm
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