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Uniform Commercial Code (UCC) › Bank Accounts

Winstead PC

Texas Supreme Court Held Bank Was Not Liable For Fraudulent Withdrawals From An Account Due To UCC 4.406

Winstead PC on

In Compass Bank v. Calleja-Ahedo, an identity thief drained the plaintiff’s bank account through a series of fraudulent transactions in 2012 and 2013, and the plaintiff sued his bank to recover the stolen funds. No. 17-0065,...more

Proskauer - Privacy & Cybersecurity

Courts Address the Level of Security Banks Must Provide to Business Accounts

Proskauer - Privacy & Cybersecurity on

Big or small, all bank accounts are susceptible to hijacking and fraudulent wire transfers. Banks ordinarily bear the risk of loss for unauthorized wire transfers. Two independent frameworks exist to govern these transfers:...more

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