Bank vs. Customer Claims Rejected
Tracy Kitten reports:
Labeling it “a very close call,” a U.S. district court has rejected a Mississippi bank’s efforts to have a former commercial customer held liable for losses, damages and legal costs in an ACH and wire fraud case. And one legal expert suggests the case could set a precedent for other similar fraud cases.
Five months ago, BancorpSouth filed a countersuit against Choice Escrow and Land Title LLC, claiming that company, not the bank, was responsible for a fraudulent wire transfer that in 2010 drained more than $400,000 from Choice’s commercial account. The $14.3 billion bank argued that Missouri-based Choice was responsible for covering the bank’s financial losses and legal expenses related to the case
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