Mabrey Bancorporation, Inc. v. Everest National Insurance Company
January 30, 2023
A bank that was hit by ATM scammers using counterfeit debit cards is appealing an Oklahoma federal court's ruling that it can't get coverage for its losses under a financial institution bond, setting the stage for the Tenth Circuit to rule on a question of first impression in Oklahoma.
January 10, 2023
An Oklahoma federal judge on Tuesday rejected a bank's request for a redo on the court's decision that the notice-prejudice rule does not apply to financial institution bonds, saying the bank hasn't alleged the existence of new law or evidence.
May 27, 2022
An Oklahoma federal court should reconsider its decision that the notice-prejudice rule does not apply to financial institution bonds, Mabrey Bancorporation Inc. said in its claim-denial dispute with Everest National Insurance Co. over fraudulent ATM withdrawals.
May 04, 2022
A bank that was hit by ATM scammers who stole cash using counterfeit debit cards can't get coverage for its losses under a financial institution bond, an Oklahoma federal judge ruled Wednesday, finding that the bank didn't timely report its losses to its insurer.