My wife and I have signature authority on my daughter's account. She got involved in a scam that overdrew her account by $8,000.00. Are we responsible even though we were not involved in the scam and found out only after it had happened, when the banker called us to tell us she was overdrawn?
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Unless you have ownership rights in the account or signed some sort of side agreement making you liable, you should not be responsible for what happens in the account to anyone other than your daughter. The bank should have no legal right to pursue you or your wife for the overdraft.
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Unless you have ownership rights in the account or signed some sort of side agreement making you liable, you should not be responsible for what happens in the account to anyone other than your daughter. The bank should have no legal right to pursue you or your wife for the overdraft.
