I have a co-worker who just had a CC company make a payment on her account by taking it from her checking without authorization. Is there a law that covers this???
It depends. Is the CC company and the bank the same institution? If so, they executed an offset and it is legal. If this isn't the case, more details please.
They are not the same company. They used past acct information to debit the account this time without her authorization.
I'd suggest your friend do the following: Contact her bank and request a new account number to prevent this from happening again. Then, send a letter to the CC company demanding the funds be returned and then, file complaints with the AG's office in your state and, the Office of the Comptroller of the Currency {OCC}.
WALLST, Your friend has to initiate an investigation with the bank and their are laws preventing this, ACH, EFT, NACHA. She has to do it within 60 days, could be 90 days but I'm remembering 60, of the mailing date of the statement showing the transaction. In fact, if you read the fine print included with the statements it will tell you the dispute procedure. Basically, you sign an affadavit with the bank (they have the forms) certifying it was unauthorized and requesting an investigation. The bank can retrieve the funds from the bank that processed the transaction. And there are mandates deadlines for completing the investigation and returning the funds. If that fails, your State's AG and the Commissioner of Banking websites should have information for lodging complaints. There's another thread addressing this, I'll see if I can hunt it up. Sassy
Here's the link: http://consumers.creditnet.com/straighttalk/board/showthread.php?threadid=24019 Sassy
