Edward D. Jones & Co. v. Mishler

This case involves a dispute over who should bear losses incurred as a result of checks deposited into a money market account that later were returned for insufficient funds. By way of appeal, cross-assignment of error, and cross-appeal, the parties raise and argue several related issues. Principal among them is whether an investment entity that provides its customers with accounts into which they can deposit funds and from which they can make demand withdrawals by check is a “bank” for purposes of the Uniform Commercial Code (UCC) governing bank collections, ORS chapter 74. We hold, as did…