News & Analysis as of

Uniform Commercial Code (UCC) › Federal Financial Institutions Examination Council

Hudson Cook, LLP

Current Developments in Bank Deposits and Payment Systems (Spring 2019)

Hudson Cook, LLP on

This survey summarizes several recent developments affecting bank deposits and payment systems. The U.S. department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued new guidance concerning the customer...more

Adams and Reese LLP

Six Steps Banks Should Implement to Ensure Their Security Procedures are Commercially Reasonable

Adams and Reese LLP on

Banks are tasked by the Uniform Commercial Code (the UCC) with using “commercially reasonable” security procedures when processing funds transfers. This responsibility is constantly evolving as bank fraud becomes more...more

Spilman Thomas & Battle, PLLC

Unauthorized Transfers Present Growing Risks for Commercial Accounts

Spilman Thomas & Battle, PLLC on

Could your institution be at risk of liability for unauthorized wire transfers and Automated Clearing House (“ACH”) credit transfers? Data security breaches continue to garner headlines, and criminals continue to engage in...more

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