Tag: UCC

  • Court rules in favor of Bank in account takeover case

    Unlike the PATCO ruling, a district court in Missouri has ruled in favor of the bank in an account takeover case brought by one of its commercial customers.  This case was very similar to the PATCO case with one important exception, which I’ll discuss shortly.  But it also raises some interesting questions that could impact…

  • Commercially UNreasonable Security

    So an appellate court has just reversed the PATCO court ruling, essentially deciding against the financial institution. They ruled that the banks’ security procedures were commercially UN-reasonable.