Legal Question in Banking Law in New York

charges for over the credit limit on credit card

A member of my family had a situation where his credit card was stolen. He reported it to the bank and was told it was his responsiblility. He paid to the best of his financial ability to pay the balance. He missed a months payment and with the fees for late payment put him over the credit limit which included an additional fee. He has been paying within his means for the last 7 years $7,900. For a $1,800. Balance . I recently sent a detailed letter to the office of thepresident of ths particular bank. We recently got a response telling us they will adjust the current balance of $4,800. I feel they should reimburse him for the amount over the line of credit. I was told that the bank could not get any records to see the activity that caused the account to go over the credit limit. Is there another agency that i can speak to that deals with banking policies. Thank you


Asked on 4/29/07, 11:23 pm

1 Answer from Attorneys
florence hessen florence f. hessen,esq

Re: charges for over the credit limit on credit card

HI:

You should report this situation to the Department of Banking by was of a complaint, since most banks that issue a credit card unless there is negligence involved; in the case of identity theft or a stollen card generally the liability to the innocent card holder is negligble.

Good Luck

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Answered on 4/29/07, 11:55 pm


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