Shawmut Worcester County Bank v. First American Bank
United States District Court for the District of Massachusetts
731 F. Supp. 57 (1990)
- Written by Sean Carroll, JD
Facts
Shawmut Worcester County Bank (Shawmut) (plaintiff) mistakenly electronically transferred $10,000 from American Optical Corporation (American Optical) to First American Bank & Trust (First American) (defendant). First American then transferred the money to its customer as directed in the transfer order. The transfer, however, was a duplicate of an earlier transfer that had been properly made. When Shawmut realized the error, it credited American Optical’s account and asked First American to refund the money mistakenly transferred. First American refused, and Shawmut filed suit to recover from First American. Shawmut asserted a negligence claim and claims under the Electronic Fund Transfer Act (the act), among other claims.
Rule of Law
Issue
Holding and Reasoning (Young, J.)
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