My bank decided to close my business account without notice on 5-5-09, and put a closing date on it for 6-5-09. On that day, they delayed it to 7-2, and are still holding a very large amount of the money. How long can they keep our money? How many times can they push back the date of closing? Is there some type of law or regulation pertaining to this? I need help, Bank of America has all the money of the business and is driving our business toward bankruptcy.
Because it is not known on what basis the bank is holding the funds, specific guidance cannot be given. If you believe that the bank's retention of your business funds is without merit, you need to contact an attorney who may be able to convince the bank to give you back control of the funds.
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Because it is not known on what basis the bank is holding the funds, specific guidance cannot be given. If you believe that the bank's retention of your business funds is without merit, you need to contact an attorney who may be able to convince the bank to give you back control of the funds.
