In The News

Eric Gribbin and Julia Lissner co-authored an article in the American Banker titled, "'Void after 90 Days?' Illinois Court Says No," which described the significance of a favorable appellate court decision Akerman secured for client BMO Harris Bank NA. They noted the ruling provided a major win for banks across the nation while defining a new rule of law in today's banking system. The decision bids farewell to restrictive legends on checks and recognized the realities of digital banking. The case also serves as a cautionary tale for bank customers and emphasizes the importance of the account agreement between the bank and the customer.

"Banks should find this decision useful as it emphasizes the importance of the account agreement. The decision upholds terms of an agreement that modify the UCC [U.S. Uniform Commercial Code] and underscores the customer's obligation to be vigilant about errors in their statements. Banks also should regularly review and update their account agreements because, as the decision demonstrates, courts stand ready to vindicate reasonable terms and conditions," Gribbin and Lissner wrote in American Banker.

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