Victims of unauthorized bank transfers in California are protected under both state and federal laws. One of the primary protections comes from the Electronic Fund Transfer Act (EFTA), which provides consumers with certain rights when unauthorized or fraudulent electronic transfers occur. This law requires financial institutions to investigate disputes promptly and, in many cases, reimburse customers for losses if the report is filed within a specific timeframe.
In addition to EFTA, California law also offers consumer protection through the Consumer Legal Remedies Act (CLRA) and the Unfair Competition Law (UCL). These statutes allow individuals to pursue legal action against businesses that engage in deceptive or unfair practices, including banks that fail to provide adequate fraud protection or ignore consumer complaints. In some instances, victims may also have claims under common law theories like negligence or breach of contract.
A California bank transfer fraud attorney can help you understand which laws apply to your specific case and how to use them to your advantage. Your lawyer can also help ensure that your complaint is filed within the appropriate statute of limitations, which can vary depending on the type of claim. Knowing your legal rights is essential for protecting your finances and holding institutions accountable when they fail to act responsibly.
