America First Credit Union v. First Security Bank of Utah, N.A.

ON CERTIORARI TO THE UTAH COURT OF APPEALS

HOWE, Justice:

We granted certiorari to review a decision of the court of appeals that First Security Bank wrongfully paid to Renaissance Exchange, Inc., the proceeds of a certificate of deposit that Renaissance had assigned to *1200America First Credit Union (AFCU) as collateral securing a loan to Renaissance. America First Credit Union v. First Sec. Bank of Utah, N.A., 896 P.2d 25 (Ct.App.), cert. granted, 910 P.2d 425 (Utah 1995).

FACTS

AFCU made a series of three loans to Renaissance, a supplier of food service to military bases under government…