How does bank get paid for fraud claims?

Posted by bank on February 26th, 2010
If there was a fraud where someone used your personal info to open a paypal account and used your own bank account and took your money (by transferring it from bank to paypal, then pocketing the money), and you told both paypal and bank about the fraud, and your bank took charge and put the claim and gave you the money back. Who pays the bank for that money? Does the bank make paypal give them the money? Or do banks get so much money per year (or whatever) for fraud claims?

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What’s the smartest way to cash out a flexible variable life insurance policy?

Posted by bank on November 4th, 2009

JP asked:


I inherited a flexible variable life insurance policy that my now deceased grandfather bought for me a long time ago. The value on it has gone down in value by about $900 since I found out it was mine 3 months ago…should I just cash it out now or is there a smarter way to cash out the surrender value (it’s tied to the stock market…so I know there’s probably not much I can do)? Help please.

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