Category: Banking COI

Case of interest where a Texas Court of Appeals ruled the customer waited too long to sue a bank regarding missing proceeds from a CD account

The opinion in Gonzalez v. Vantage Bank Texas, No. 04-21-00285-CV, 2022 WL 14679567 (Tex. App. – San Antonio 2022, no pet. h.), reaffirms the importance of a bank customer’s duty to timely review bank statements for errors or unauthorized transactions.  Gonzalez brought claims against her bank for breach of contract and negligence, alleging that after a CD […]

Written by on November 21, 2022

Recent Case of Interest on $500MM Mistaken Wire Transfer Decision Reversal

In this case of interest, the Second Circuit Court of Appeals reversed a prior ruling and ruled that lenders must return $500 million to Citibank, who mistakenly wired transferred funds to the lenders in excess of the presently required loan payments as a result of an error. See Citibank v. Brigade Capital Management, 49 F.4th […]

Written by on October 17, 2022

Recent case of interest related to N.Y. Court affirming Happy the elephant, a nonhuman animal, is not a ‘person’ subjected to unlawful detention

I sometimes want to send blurbs about non-business cases.  This case of interest comes from the N.Y. Court of Appeals where the court dismissed a petition for writ of habeas corpus for Happy, the Thailand-born elephant. In Nonhuman Rights Project, Inc. v. Breheny, No. 52, 2022 WL 2122141 (N.Y. June 14, 2022), the Nonhuman Rights […]

Written by on July 27, 2022

Case of interest related to the E-Sign Act and clicking an “acknowledgement” button to possibly agree to a contract

This case of interest addresses the use of an e-signature by clicking the “acknowledgment” button on an electronic agreement.  In Apprio, Inc. v. Zaccari, No. 18-2180 JDB, 2022 WL 971001 (U.S. District D.D.C. March 31, 2022), the Court found that the defendant was bound by the Agreement that was electronically acknowledged (i.e., the Proprietary Information […]

Written by on June 20, 2022

Recent cases of interest regarding overdraft fees class actions and two additional dismissals/judgments in favor of banks

I previously sent an email update regarding a dismissal/summary judgment in a matter styled Williams v. Happy State Bank, No. 07-22-00003-CV, 2022 WL 226852, Williams v. Happy State Bank (Tex. App. Jan. 26, 2022, no pet.).  (Tex. Court of Appeals, 7th Dist. 2022).  In that update, I wanted to let various banks and credit unions […]

Written by on June 3, 2022

Recent case of interest I personally argued to the Tex. Sup. Ct. wherein the Court ruled a wire transfer request form did not create a new contract

In Elizondo, an attorney was scammed by a putative client.  See Cadence Bank v. Elizondo, No. 20-0273, 2022 WL 815946 (Tex. Mar. 18, 2022).  The attorney was tricked into negotiating and depositing a fraudulent cashier’s check by an email scam.  More specifically, examination of emails between Elizondo and his “client” showed typical signs of a […]

Written by on April 22, 2022

Recent case of interest where Texas passes a landmark bill (HB 4474) recognizing, defining, and clarifying virtual currency and its control

Texas lawmakers recently passed a landmark bill, HB 4474, also known as the “Virtual Currency Bill,” which recognizes cryptocurrencies and other blockchain currencies in the Texas Business and Commerce Code. The Virtual Currency Bill defines virtual currencies, establishes when a purchaser has control over such currencies, and clarifies how a security interest in a virtual […]

Written by on October 8, 2021

Fifth Circuit rebuffed an individual guarantor’s claims of “fraudulent inducement, duress, unclean hands, and equitable estoppel” against lenders

In 2015, several of Michael Lockwood’s companies took on $90 million in revolving lines of credit from Wells Fargo and Trustmark National Bank. Lockwood Int’l. Inc. v. Wells Fargo, Nat’l Ass’n, 2021 WL 3624748 (5th Cir. Aug. 16, 2021). Within a year, some of the obligations had already been breached. As a result, the parties […]

Written by on September 13, 2021

Seventh Circuit ruled CRAs were responsible for investigating “factually inaccurate information,” but not “legal inaccuracies.”

In these consolidated cases, seven plaintiffs claimed their consumer debts were not owned by the creditors listed on their credit reports and requested that the credit reporting agencies investigate their claims. Credit reporting agencies verified debt ownership with creditors and debtors were informed. Plaintiffs felt the investigations by the credit reporting agencies were inadequate and […]

Written by on August 13, 2021