Truist Financial Corp. will have to face negligence claims over its failure to stop a scammer from withdrawing nearly $550,000 that was misdirected into a fraudulent account, a federal appeals court determined.
However, two other claims under Indiana state law that Approved Mortgage Corp. filed against Truist Bank for improperly receiving the diverted funds were properly dismissed, the US Court of Appeals for the Seventh Circuit ruled Friday.
Counsel for Approved Mortgage and Truist didn’t immediately respond to requests for comment. Charlotte, N.C.-based Truist also didn’t immediately respond to a request for comment.
The case stems from two mortgage payments ...
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