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I deposited a check into my checking account. A new check not previously deposited. Several days later the bank cleared the checks, releasing the money. I spent the money. I get a phone call from the bank informing me that the checks were in fact bad and that I am now responsible for the bad checks. Is this true? Seems to me the bank cleared the check, released the funds, they should assume some liability for the bad checks.
After all, I did what I was supposed to do, deposit the checks and waited til the bank told m they were ok.