Reference no: EM131660178

Question: Error Resolution. Sheridan has a checking account at Gulf Bank. She frequently uses her access card to obtain money from the automated teller machines. She always withdraws $50 when she makes a withdrawal, but she never withdraws more than $50 in any one day. When she received the April statement on her account, she noticed that on April 13 two withdrawals for $50 each had been made from the account. Believing this to be a mistake, she went to her bank on May 10 to inform the bank of the error. A bank officer told her that the bank would investigate and inform her of the result. On May 26, the bank officer called her and said that bank personnel were having trouble locating the error but would continue to try to find it. On June 20, the bank sent her a full written report advising her that no error had been made. Sheridan, unhappy with the bank's explanation, filed suit against the bank, alleging that it had violated the Electronic Fund Transfer Act. What was the outcome of the suit? Would it matter if the bank could show that on the day in question it had deducted $50 from Sheridan's account to cover a check that Sheridan had written to a local department store and that had cleared the bank on that day?