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Law Educator, Esq.
Law Educator, Esq., Lawyer
Category: Criminal Law
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Experience:  Attorney with over 20 years law enforcement, prosecution, civil rights and defense experience
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What is the Federal banking law concerning someone without

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What is the Federal banking law concerning someone without POA either in writing or on record with the bank that passed the checks for two years, signing the elder persons name?
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes.

This is not an actual banking statute, it is a determination that needs to be made against the bank regarding whether or not they used proper duty of care to examine the signatures on the checks when presented. The question is whether a bank which has failed to verify any of the drawer's signatures on the forged checks because they fell below the bank's threshold can nonetheless be considered to have exercised "ordinary care" in paying the items. The banks defend themselves against these allegations claiming that a account holder should be reviewing their monthly statements to verify payments taken from their account and had they done so the bank could have stopped payment in a reasonable time.

Thus, the first step you need to take is you need to find out what the particular bank's threshold is for verifying signatures is and if they complied with that threshold and if they did not then you could consider getting an attorney for the trust to pursue the bank for breach of their duty of care to the account holder. The bank is only liable to exercise an ordinary duty of care by following their rules and guidelines in verifying signatures.

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Customer: replied 3 years ago.

thank you the bank is Wells Fargo and since my aunt was incapcitated

she was unable to audit her statements


My aunt's Trust named my mother as ist succesor (also deceased) and me as second successor. The third successor who signed the checks

fought me in court for...I won and also was named PREP.


Estate attorney has advised me that beneficiaries may hold resposible if i do not perform my fidicary duty in this matter.

As the Attorney General of PA.where the Trust was written.A banker pulled upthe Fedaeral Banking Laws tht the bank has responsibilty

Thank you for your response.

You do have to pursue the claim, but you have to prove that the bank did not exercise proper care in validating the signatures according to what the laws state. The bank may have liability, it just depends on what the evidence shows. In either case you must have an attorney to sue the bank on behalf of the trust.
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