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Orrick, Herrington & Sutcliffe LLP

Ninth Circuit sides with credit union after finding NCUA regulations preempted California state law

Orrick, Herrington & Sutcliffe LLP on

On August 1, the U.S. Court of Appeals for the 9th Circuit affirmed the dismissal of claims under California’s Unfair Competition Law (UCL) against a federal credit union, holding that federal law preempts state regulation of...more

Sheppard Mullin Richter & Hampton LLP

Fourth Circuit Rejects Rehearing in ACH Fraud Suit Alleging Violations of KYC Rules and NACHA Operating Standards

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On April 22, the Fourth Circuit declined to reconsider a panel ruling that found a credit union could not be held liable for a scam in which fraudsters diverted over $560,000 from a metal fabricator through unauthorized ACH...more

Orrick, Herrington & Sutcliffe LLP

Fourth Circuit reverses decision in $550K ACH fraud transfer case

Orrick, Herrington & Sutcliffe LLP on

On March 26, the U.S. Court of Appeals for the Fourth Circuit reversed and remanded a lower court’s decision in a case involving a fraudulent email scam that caused a financial loss of over $550,000. The plaintiff, a metal...more

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