Are banks allowed to release names of a party involved in a "supposed fraud" to a person who''s accont has been jeopardized?
Asked on Mar 19th, 2012 on Business Law - Illinois
More details to this question:
I was falsely accused of using someone''s checking account to pay a utility bill. When I found out, I was given a letter where it clearly states that the utility account holder is "My Name". However, I do not have an account with that utility company, my wife does (who does not have the same last name as I). I am now being harrased and humiliated by that person on daily basis. Is there a law that prohibits banks to release names of the accused to the person who''s checking account has been "jeopardized". Just to mention, that I did NOT, and would never in my right mind do what I''m being accused of. I do not know how this could have happened, and unfortunately I have no way of proving that. I just want to make sure that my legal rights as the consumer of the same bank were not compromised.
It may seem silly to you, but the logical first step for the bank was to investigate the charge, which would include asking the checking account holder whether he or she authorized the charge. Since you are not the bank's customer, it owes you no particular duty of privacy.
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