Legal Question in Credit and Debt Law in Texas
False credit reporting by Bank of America
Some time ago I was banking with Bank of America and they posted a $1500.00 check to my account that was written from another persons account. This caused my account to be incorrectly overdrawn. While the bank was investigating the mistake my account remained incorrectly overdrawn. In the some 12-18 months it took to resolve this error my account was turned over to a collection agency and is now the only bad mark on an otherwise agreeable credit report. After many contacts with them they refuse to remove the error. What is my legal recourse and can I sue for other damages?
2 Answers from Attorneys
Re: False credit reporting by Bank of America
It certainly sounds as if you have a case against the bank. Contact a local attorney, since the bank is a national bank and can be sued in your state. I believe the proper name for your cause of action is slander of credit, and there may be a violation of the Fair Credit Reporting Act as well.
Re: False credit reporting by Bank of America
Also, you may need to check your deposit agreement. Many deposit agreements only give you 60 days to dispute an erroneous entry on your account. You should get an attorney and have him look at it.
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