4 ms·
> I work in fintech and if a bank accidentally deposits money into your account and you spend it, you can go to jail So do I, and it depends. There was a whole
by wyager 4y ago
> I work in fintech and if a bank accidentally deposits money into your account and you spend it, you can go to jail
So do I, and it depends. There was a whole case recently where chase (iirc) accidentally sent tens/hundreds of millions of dollars to a lender, and the lender chose to interpret it is an early loan repayment, and was allowed by the courts to keep the money.
- hn_throwaway_99 4y ago> the lender chose to interpret it is an early loan repayment, and was allowed by the courts to keep the money. No. The appeals court smacked them silly in a unanimous opinion and the money was returned to Citi [1]. From the appellate judge: > In a separate opinion, Circuit Judge Michael Park called the lawsuit a “straightforward case that many smart people have grossly overcomplicated and that we should have decided many months ago.” > “Put simply, you don’t get to keep money sent to you by mistake unless you’re entitled to it anyway,” Park wrote 1. https://www.bankingdive.com/news/citi-wins-appeal-500-million-revlon-loan-blunder/631536/ https://www.bankingdive.com/news/citi-wins-appeal-500-millio...
- wyager 4y agoAh, I did not see this update! Tfti