Canan auto finance company withdraw funds from a checking account without your authorization if the bankand auto lenderare the same?

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Canan auto finance company withdraw funds from a checking account without your authorization if the bankand auto lenderare the same?

Had a auto finance company withdrew funds out of checking account. Both checking and finance companies are same. They stated that they have the legal right to make the withdrawal. I would like to know under what guidelines that gives them the right under either state or federal law?

Asked on April 18, 2011 under General Practice, Texas

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

I think that you should be asking this question to THEM, and I am not being sarcastic.  I think they over step their bounds here and you need to back them in to a corner by making them prove that they have the legal right to do so.  Ask for it IN WRITING.  Do not speak with any of the floor customer service people.  Keep asking for a supervisor and ask for the number of their legal department.  Then I would constact the deparment of Banking in your state and file a complaint.  Make sure, though, that you did not sign anything that authorized this automatic withdrawl when you signed all the paperwork for the car.  Good luck. 


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