Maximizing Your Protection for Remotely Given Customer Payment Orders
GDB Firm Blog
SEPTEMBER 18, 2019
As technology evolves, many banks forget to take advantage of a 30-year-old UCC provision that protects them when they accept remote customer directions to send. In a commercial context (this law doesn't apply to Regulation E transfers involving consumers), if a bank creates a commercially reasonable security procedure and requires the customer to follow that procedure in order to remotely authorize a transaction, and the customer agrees to the procedure, the risk of an unauthorized directi
40 
Let's personalize your content