TD Bank Dodges Repayment Bid Over NJ Atty's Check Fraud

Law360 (February 14, 2018, 7:18 PM EST) -- A Pennsylvania appeals court on Wednesday refused to revive claims aimed at forcing TD Bank to pay back Levy Baldante Finney & Rubenstein PC after a former partner fraudulently endorsed and cashed a string of checks totaling more than a quarter million dollars.

A three-judge Superior Court panel rejected arguments that the firm had been saddled with an unreasonable duty, in violation of the Uniform Commercial Code, of reviewing checks for unauthorized endorsements.

Although the panel agreed that the UCC imposes no duties to look for unauthorized endorsement, it noted that the firm had signed off on a deposit agreement requiring...

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