Cadence Bank has been embroiled in an eight-year legal dispute with a Houston attorney over the meaning of this international wire transfer form. Texas Supreme Court Favors Bank in Money Wire Scam That Duped Houston Attorney
The high court reversed a decision that created a new duty for banks to ensure funds for a deposited check cleared before proceeding with an international wire transfer.
March 22, 2022 at 12:49 PM
4 minute read
Financial Services and Banking
The Texas Supreme Court reversed a lower court ruling that favored a Houston attorney who was victimized in a wire transfer scam that left a bank exposed to a $389,980 overdraft.
The high court reversed a decision by the First District Court of Appeals that created a new duty on a bank's part to ensure funds for a deposited check cleared before proceeding with an international wire transfer.
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