Wachovia Bank, N.A. v. Foster Bancshares, Inc.

POSNER, Circuit Judge.

This diversity suit pits two banks (for unexplained reasons, the defendant bank’s parent was also joined as a defendant) against each other in a quarrel over liability for a forged or altered check.

A customer of Foster Bank named Choi deposited in her account a check for $133,026 that listed her as the payee. The check had been drawn on Wachovia Bank by a company called MediaEdge that had an account with that bank. Foster presented the check to Wachovia for payment. Wachovia paid Foster and debited Me-diaEdge’s account. Now as it happened the actual payee of the check as…