Legal Question in Banking Law in New York

check cashed for very wrong amount

I wrote a check to a credit card company for $72. The check was encoded wrong by the credit card company and encoded for 9 million 72 dollars. I was NOT notified by the bank or credit card company. I received a notice in the mail from my bank stating I had exceeded my overdraft limit. Further investigation lead to the above. The credit card company has assured me that they will pay any fees I incur as a result of their error. The bank has sent my problem to the loans department to give back the overdraft money and take care of any additional monetary problems this error may cause.

I have spent a great deal of time now on the phone with both credit card company and bank.

Do I have any basis for a lawsuit?? Emotional distress or otherwise???? 9 million 72 dollars versus 72????

THanks for any help you can provide.


Asked on 1/10/02, 4:48 pm

1 Answer from Attorneys
Thomas Luz Pearce & Luz LLP

Re: check cashed for very wrong amount

I sympathize with your frustration. There are lots of stupid people in the world and large financial institutions seem to collect them. That said, I have less sympathy for people who go around looking for lawsuits whenever they run into an adverse situation.

Lawsuits are for people who have suffered monetary loss due to physical or property damage. You don't qualify. You should sort out this arithmetic error in a calm and patient way and get on with your life.

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Answered on 1/10/02, 5:13 pm


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