Class RICO Claims Get New Life on Zions Bank Debits

The U.S. Court of Appeals for the Third Circuit Sept. 2 gave plaintiffs another chance to seek class status in a case alleging racketeering fraud by Zions First National Bank and its payment processing units (Reyes v. Netdeposit LLC, 2015 BL 284022, 3d Cir., 14-cv-01228, 9/2/15).

The case, which now goes back to the district court to consider certification of a class that could number in the tens of thousands, is important because it focuses in large part on how often funds debited through the Automated Clearing House (ACH) system are returned, or credited back, to a ...