Can an everyday person fight bank negligence?

When you borrow money from a lender such as a bank, you typically expect them to have a duty of care to you. Borrowers usually have an expectation that banks have an obligation to communicate in a timely manner, to maintain certain documents, and to provide accurate information.

What borrowers may be surprised about, however, is how little banks and lenders have actually been held accountable for. They didn’t use to face any consequences for losing documents, or providing inaccurate information, for lack of communication, or for violating their own established policies.

Homeowners would complain of bank negligence, but lenders and banks would continually argue that they had no duty of care to these borrowers.

What does a borrower have to prove in order to be able to prove bank negligence and hold them accountable?

• They must show that the bank or lender had a duty of care to the borrower.
• The bank or lender did not perform the minimum required amount of duty of care.
• Lastly, the bank or lender’s failure to perform the duty of care directly caused the borrower harm.

What step do you take if you believe that your bank or lender acted negligently and caused you harm? The first step to litigating a banking dispute is to speak to a qualified litigation attorney.

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