Claims Examples

Depositor Liability

≡ An individual acts as the custodian of numerous accounts at a bank. There are multiple depositor agreements on the accounts providing varying levels of authority for the custodian. The bank grants broad authority across the accounts that allows the custodian to make unauthorized fund transfers between them. The customers incur a loss and sue the bank for negligence in failing to enforce the terms of the depositor agreements.
   
≡ A bank acts as a depository for ACH transactions of a larger institution. A bank employee transposes numbers on two merchant accounts, causing ACH credits to be erroneously deposited into the wrong account. When the error is discovered, the funds have already been withdrawn by the business that had received them. The company that incurs the loss sues the bank.