Legal Opinion
Patco Construction Co., Inc. v. People's United Bank
Court of Appeals for the First Circuit
Decided July 3, 2012No. 11-2031PublishedCited by 52 opinions
1Opinion of the Court
LYNCH, Chief Judge.
Over seven days in May 2009, Ocean Bank, a southern Maine community bank, authorized six apparently fraudulent withdrawals, totaling $588,851.26, from an account held by Pateo Construction Company, after the perpetrators correctly supplied Patco’s customized answers to security questions. Although the bank’s security system flagged each of these transactions as unusually “high-risk” because they were inconsistent with the timing, value, and geographic location of Patco’s regular payment orders, the bank’s security system did not notify its commercial customers of this…
2Cases cited14 opinions
- Thompson v. Coca-Cola Co.Court of Appeals for the First Circuit · 2008
- Maymi v. Puerto Rico Ports AuthorityCourt of Appeals for the First Circuit · 2008
- Kurns v. Railroad Friction Products Corp.Supreme Court of the United States · 2012
- Ma v. Merrill Lynch, Pierce, Fenner & Smith, Inc.Court of Appeals for the Second Circuit · 2010
- Rodriguez-Rivera v. FEDERICO TRILLA REGIONAL HOSP.Court of Appeals for the First Circuit · 2008
9 more not listed; retrieve them via the Exa API.
3Cited by52 opinions
- Lamm Ex Rel. Ira v. State Street Bank & TrustCourt of Appeals for the Eleventh Circuit · 2014
- Roger Chavez v. Mercantil Commercebank, N.A.Court of Appeals for the Eleventh Circuit · 2012
- Dunn v. Trustees of Boston UniversityCourt of Appeals for the First Circuit · 2014
- Choice Escrow & Land Title, LLC v. BancorpSouth BankCourt of Appeals for the Eighth Circuit · 2014
- Hankey v. Town of Concord-CarlisleDistrict Court, D. Massachusetts · 2015
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