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Fourth Circuit Holds UCC Article 4A Requires Beneficiary Bank’s Actual Knowledge for Wire Misdescription Liability in Business...

On March 26, the U.S. Court of Appeals for the Fourth Circuit reversed a district court’s decision holding a credit union liable for a wire transfer in a business email compromise scam case where the credit union lacked...more

FINRA Finds Potential Rule Violations in Crypto Asset Sweep

In November 2022, the Financial Industry Regulatory Authority (FINRA) launched a targeted crypto asset sweep, reviewing more than 500 retail communications related to crypto assets from member firms....more

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