Is my Bank Legally require to issue me a Hold Harmless Letter?

UPDATED: Oct 1, 2022

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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


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 5 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.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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