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Banking Sector › Wire Transfers › Banks

Orrick, Herrington & Sutcliffe LLP

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

Orrick, Herrington & Sutcliffe LLP on

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

Wilson Sonsini Goodrich & Rosati

Important Tips When Establishing New Bank Accounts and Updating Wire Transfer Information

Wilson Sonsini Goodrich & Rosati on

With the Federal Deposit Insurance Corporation’s (FDIC) takeover of Silicon Valley Bank (SVB), we expect a number of entities to begin establishing new bank accounts and updating wire transfer information. This creates...more

Troutman Pepper Locke

Texas Supreme Court Holds Administrative Wire Transfer Form Does Not Impose Contractual Duties on Bank

Troutman Pepper Locke on

In Cadence Bank, N.A. v. Roy J. Elizondo III, PLLC, the Supreme Court of Texas recently held that an administrative form relied upon by a victim of a fraud scam did not impose contractual obligations on a bank to verify...more

Shumaker, Loop & Kendrick, LLP

Client Alert: A “Black Swan Event”: New York Federal Court Rules that Lenders are Entitled to Keep $500 Million Mistakenly Paid by...

Shumaker, Loop & Kendrick, LLP on

We are closely following Revlon on behalf of several creditor interests. In the context of a series of complex re-financings and roll-up transactions by Revlon in May, 2020, human error caused a $500 million loss for...more

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