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Appeals Fraud Financial Institutions

Troutman Pepper Locke

Wire Fraud Litigants Beware: Fourth Circuit Ruling Protects the Banks — The Consumer Finance Podcast

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In this episode of The Consumer Finance Podcast, Chris Willis is joined by veteran litigators and Troutman Pepper Locke Partners Mary Zinsner and Heryka Knoespel to dissect a groundbreaking Fourth Circuit decision on bank...more

Orrick, Herrington & Sutcliffe LLP

Second Circuit sides with bank in FCRA case

On May 28, the U.S. Court of Appeals for the Second Circuit affirmed a judgment issued by a district court judge in U.S. SDNY dismissing a plaintiff-appellant’s claims under the FCRA for allegedly failing to reasonably...more

Orrick, Herrington & Sutcliffe LLP

District court grants bank’s motion for stay pending appeal to consider EFTA arguments

On April 22, the U.S. SDNY granted a bank’s motion for interlocutory appeal and stay pending appeal to the U.S. Court of Appeals for the Second Circuit in a case involving alleged violations of the EFTA. The case stemmed from...more

Katten Muchin Rosenman LLP

The More You Know Can Hurt You: Court Rules Financial Institutions Need 'Actual Knowledge' of Mismatches for ACH Scam Liability

On March 26, the US Court of Appeals for the Fourth Circuit issued a decision that has important ramifications for banks and credit unions that process millions of Automated Clearing House (ACH) and Electronic Funds Transfer...more

Holland & Knight LLP

Fourth Circuit Limits Beneficiary Bank Liability in BEC Schemes, Requires Actual Knowledge

Holland & Knight LLP on

Business email compromise (BEC) fraud, driven by technology and increasing sophistication by criminal organizations, has become a major issue for both consumers and financial institutions. According to a September 2024...more

Troutman Pepper Locke

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

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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

White & Case LLP

Landmark UK Supreme Court decision clarifies scope of banks’ so-called ‘Quincecare duty’

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In Philipp v Barclays Bank UK PLC, the UK Supreme Court has given unanimous judgment in favour of Barclays Bank, and provided clear guidance on the so-called ‘Quincecare duty’ owed by banks to their customers. White & Case...more

White & Case LLP

Court of Appeal: Banks’ Quincecare duty may apply to instructions from defrauded customers

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In Philipp v Barclays Bank UK PLC, the Court of Appeal held that the Quincecare duty may apply to direct customer instructions (not just those through an agent), such that banks may be liable for failing to protect against...more

White & Case LLP

UK Supreme Court upholds first successful claim for breach of the "Quincecare" duty financial institutions owe their customers

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In Singularis Holdings Ltd (In Official Liquidation) v Daiwa Capital Markets Europe Ltd ([2019] UKSC 50), the Supreme Court upheld the first successful claim in negligence by a customer of a financial institution for breach...more

White & Case LLP

Norwich Pharmacal relief – costs, rights and obligations in pre-action disclosure

White & Case LLP on

In a decision handed down last week, Jofa Limited and Joseph Farah v Benherst Finance Limited and Chestone Industry Holding [2019] EWCA Civ 899, the Court of Appeal considered the rules regarding the costs of applications for...more

Carlton Fields

Third Circuit Reverses Denial of Class Certification in Complete Sham Telemarketing RICO Case

Carlton Fields on

The United States Court of Appeals for the Third Circuit reversed the denial of class certification in a case brought against a bank and its payment processors that allegedly engaged in a fraudulent scheme to cause...more

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