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

OPINION

JACKSON, Judge:

First Security Bank of Utah (First Security) appeals the trial court’s judgment in favor of America First Credit Union (America First) for $99,999, the amount paid by First Security to Renaissance Exchange, Inc. (Renaissance), despite an assignment for security of the amount to America First. We affirm.

FACTS

Between April 1988 and May 1990, Renaissance entered into three loan transactions with America First. As part of the first loan transaction, Renaissance executed a commercial security agreement in favor of America First, granting America First a security interest in a…