Is my Bank Legally require to issue me a Hold Harmless Letter?
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Is my Bank Legally require to issue me a Hold Harmless Letter?
I was a victim of an internet scam. I applied for a personal loan on what seemed a reputable company that aligned itself with a respected CPA Firm in Denver, CO. I foolishly wired from my account 2 seperate wire totalling $2,100. When they asked for additional funds, I contacted Regions Bank the receiver of the wire. They immediately froze the account, contacted the account holder and the CPA Firm. The immediately deemed it a fraud and said my money was waiting for me in the account, they just needed a
Asked on October 16, 2017 under Business Law, New York
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
No, there is no leverage and no legal requirement for them to issue this letter. Your bank has no contract requiring them to issue it; they did nothing wrong and so do not face any liability; and the law generally does not require it. You need to satisfy them (if possible) and get them to voluntarily issue the letter.
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