1. Read the following scenario and answer the question in 5-10 sentences. You ar

Question

1. Read the following scenario and answer the question in 5-10 sentences. You are the vice president of Regional Bank, Inc. John Nguyen is a customer holding $50,000 in a Regional Bank checking account. A clerical error by Regional Bank misspelled Nguyen’s address, and his statements were sent to another address for four months. Before the error was corrected, the recipient of Nguyen’s bank statements made an unauthorized withdrawal of $15,000 from Nguyen’s checking account. Nguyen asked a bank teller for Regional Bank for a recredit, which the teller refused to give. The teller cited the depositor agreement between Nguyen and the bank requiring any reports of unauthorized withdrawals to take place within thirty days after the bank made the statement. Evaluate whether or not you should override the teller’s decision.

Explanation / Answer

There happens to exist Service Law agreements at the initial stage of signing up an account with a bank and that surely does come with its own guidelines. In this case too, it is very much a fair clause made by the bank of wrong withdrawals to be addressed within 30 days of the statement passing, However that is under normal scenario where the customer must have had some flaws in leaving behind any clue or source of account that can make some stranger tracepass and rob the money. But here the case is different and its totally on the bank's side of fault to have the statements being sent ti an unauthorized person. Here the teller is totally subjected to re look up the verdict, els ebe prepared for legal actions against the bank

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