(follow-up) ACH Legal Ruling Favors Bank
A decision in the PATCO case mentioned previously here. Tracy Kitten writes:
A magistrate has recommended that a U.S. District Court in Maine deny a motion for a jury trial in an ACH fraud case filed by a commercial customer against its former bank. According to the order, which must still be reviewed by the presiding judge, the bank fulfilled its contractual obligations for security and authentication through its requirement for log-in and password credentials.
Now Mark Patterson, president of PATCO Construction Inc., the commercial customer in the case, says he’s weighing his legal options.
Read more on BankInfoSecurity.com.