Nbd Bank, an Illinois Banking Corporation, and Cross-Appellee v. Standard Bank and Trust Co., an Illinois Banking Corporation, And

ESCHBACH, Circuit Judge.

Both parties, NBD Bank and Standard Bank and Trust Co. (“Standard Bank”), appeal from the district court’s dismissal of NBD Bank’s Amended Complaint and Standard Bank’s counterclaims for lack of subject matter jurisdiction under the Expedited Funds Availability Act (“EFAA”), 12 U.S.C. §§ 4001-4010. In light of the Supreme Court’s decision in Bank One Chicago, N.A. v. Midwest Bank & Trust Co., - U.S. -, 116 S.Ct. 637, 133 L.Ed.2d 635 (1996), we now reverse and remand.

I

The parties are the victim of a check-kiting scheme by an individual with access to accounts maintained…