Do you really know what happens when your bank gets issued a subpoena for your statements and deposit slips in any legal matter?
Well, I am here to tell you that it is not pretty. Here is a story of a 76 year old man who was trying to help out his daughter with a civil case. One day his daughter came to him needing his bank statements showing that he had financially helped her in a civil case she had started. He had agreed to help her and gave her copies of the print outs that the bank back several years ago had given him for her. Because the bank had made a conversion so it was quite difficult to give him everything he needed. But the lawyer at that time said that was enough.
This little old man at that time thought all was taken care of, until one day he goes to the bank to make a deposit and he thought that he had more in his account than he had. This was his life savings and his social security check got deposited to this bank and he had been a long time customer of the bank. So he questioned the teller and she was polite about it but advised him that he had to contact another person at the bank. So as soon as he got home he called the women because he thought someone hacked into his bank account. The woman at the bank politely told him that they just received a subpoena for his records and the bank policy is to deduct the fee from the customers account.
The fee that they are charging is $200.00 which first I think is out landish. From my knowledge of legal matters the bank should have charged the attorney the fee for the records and then billed his client for the fee. For this was not even this man’s case. Nor did he sign any type of release for them to do this. I believe the bank should have contacted this man so he could have at least called the attorney in question. But, they just went ahead and deducted the fee from him.
I do understand about legality and that they have to respond to these requests and I certainly understand that they need to collect the fee. But what truly bothers me is that these banks just go into your account and take your money without you knowing it. If I am not mistaken they need to get some type of release of information because your bank statements are as private as your medical records.
This poor man had the shock of the lifetime and this money he uses to eat on. It is a shame that banks just do this with no knowledge.
So, before you start any legal or civil action when a bank is involved make sure that you have there policy and so you do not have any surprises.