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Posted in Banking
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Question By
heatherbo

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Can a credit union charge interest to a fraud victim?
My husband cashed checks that were fraudulent without his knowledge. When the credit union caught it, they threatened him with jail as if he was a criminal. Since we did not have the money to pay the checks back, they turned the debt into a cash advance on our credit card and we have been paying interest on this debt for 5 years now. My husband has mental issues and doesn't understand the whole process, and just wants to keep paying. I understand them wanting their money back (I do too), but to charge us interest, where we are victimized again!!! Is that legal? Don't banks have insurance against losses?

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Top Contributor
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Your stetement is confusing

If this was fraud and he recieved the checks in payment for something and they were not honored by the issuing bank, there should have been a police report filed and the credit union should have absorbed the loss and you should have been off the hook for all of it. 

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