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Home >> Scams/Fraud
Thief Caught, but Bank Still Wants Payback from Me
My father recently had a total of $14,000 of stolen checks go through his account, all of which were paid, except for the last 95% that were returned. The individual also stole the statements out of my dad's mailbox, so he wouldn't catch it by looking at the statements. Once my father caught it, he quickly went to the bank. The bank refuses to cover the forged checks and is demanding my father pay the $1400 in bad check fees. My father filed a report with the police and they have charged the individual with theft. Why is the bank refusing to honor anything and still forcing my father to pay for the bad check fees? What should my father do next? Isn't taking statements out of mailbox a federal offense? Why wasn't he charged with a federal crime?
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 When an account is hit with a number of forgeries that appear to be the work of a single wrong-doer, there is a provision in the Uniform Commercial Code that limits the bank's liability if the account owner fails to catch the forgeries and notify the bank within thirty days of the statement with the first forgery. That period may even be shortened in some bank deposit account contracts.
The fact that an individual has been charged with the theft doesn't really change things. He or she hasn't yet been found guilty. As for a federal charge, the complaint was brought to the local police, who deal with state laws and courts. If your father talks to the Post Office about the stolen mail, the Postal Inspectors could decide to press federal charges.
Your father should talk to an attorney to determine whether the bank has acted properly.
Published on BankingQuestions.com 2/09/10
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