This case has been cited 1 times or more.
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2011-09-21 |
BRION, J. |
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| We also find that PCIB acted illegally in freezing and debiting Ramos' bank account. In BPI Family Bank v. Franco,[36] we cautioned against the unilateral freezing of bank accounts by banks, noting that: More importantly, [BPI Family Bank] does not have a unilateral right to freeze the accounts of Franco based on its mere suspicion that the funds therein were proceeds of the multi-million peso scam Franco was allegedly involved in. To grant [BPI Family Bank], or any bank for that matter, the right to take whatever action it pleases on deposits which it supposes are derived from shady transactions, would open the floodgates of public distrust in the banking industry.[37] | |||||