A Us Bank Took My Us Tax Return In Lieu Of A 82 Debt

by Marshey
(new york ny)

I had a large tax return coming. I owed $82 to a large us bank. They took my deposit to deduct monies owed and keeping my balance for at least 30 days. And cannot release my monies immediately after getting their payment.

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Feb 21, 2011
bank deposit hold
by: DebtCollectionAnswers.com

Marshey,

It sounds like your question is about how long the bank can hold the funds from the deposit of your tax refund before making those funds available to you. Is that correct?

The federal regulation that covers that issue is called the Expedited Funds Availability Act (Regulation CC) and you can read it here:

You can read the Expedited Funds Availability Act here. If you believe the bank has placed a longer hold than is legally allowed, we recommend you contact your state department of banking or a consumer law attorney.

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