AboutJim Meadows Expertise I can respond to most questions concerning consumer and business relationships with US financial institutions. My expertise touches on deposit and loan issues and particularly on strategies to navigate through bank policies personell and practices. I have a degree in Economics, attended law school, Graduate Shool of Banking, and Commercial Lending and Compliance Schools.
Experience I have twenty years experience as a bank CEO. Most of those years were spent operating a bank focused primarly on serving consumer/retail needs. I helped pioneer deposit and loan products for low/moderate income individuals. I currently serve on multiple bank boards and am Chairman of a Commercial Bank in Atlanta.
Question My Father recently passed away leaving no will, Never married but had a live in girlfriend of about 12 yrs. she stated she did not have the money to pay the funeral expenses so I paid them, my father had several small accounts with no other signers. My siblings and I had an attorney comprise a state of IL small estate affidavit to claim my father unallocated assets. when I presented the bank with the paper work we learned that the girlfriend made multiple debit card transactions and wrote several checks to herself and overdrew the account, I filed a dispute with the claims dept which was denied stating that my father failed to exercise ordinary care! causing the forgery. Do I have to except this and do I have any other recourses???
Answer Anita,You've given the bank the opportunity to do the "right thing" and they have declined. This probably means they think that their position is defensible.
You didn't say how much time has elapsed between the transactions and notification to the bank. The longer the time, the weaker the claim. Bank contracts typically specify that forgery claims must be brought within 30/60 days of the statement date.
The bank among other things will likely say that failure to notify the bank is evidence of consent by your father to the transaction.
If the amounts are substantial you might wish to discuss with an attorney but otherwise it will expensive to go against the bank. The law is on the side of bank. Your case involves disputed facts which are hard to prove. Sorry I don't have better advice. Keep in mind that the bank writes the contracts we sign and lobby for the laws that are adopted in your state. Jim
