http://www.wired.com/threatlevel/2009/09/citizens-financial-sued/ By Kim Zetter Threat Level Wired.com September 4, 2009 An Illinois district court has allowed a couple to sue their bank on the novel grounds that it may have failed to sufficiently secure their account, after an unidentified hacker obtained a $26,500 loan on the account using the customers’ user name and password. As initially reported by legal blogger, David Johnson, Marsha and Michael Shames-Yeakel sued Citizens Financial Bank in 2007 in the northern district of Illinois on several grounds, including a claim that the bank failed to provide state-of-the-art security measures to protect their account. U.S. District Judge Rebecca Pallmeyer refused last week to grant a summary judgment in favor of Citizens Financial, stating in her ruling (.pdf) that "assming that Citizens employed inadequate security measures, a reasonable finder of fact could conclude that the insufficient security caused Plaintiffs'conomic loss." Larry Smith, an attorney for the Shames-Yeakels, told Threat Level that he's surprised and happy by the judge's ruling, particularly since the negligence claim was not the meat of their case against the bank. [...] ________________________________________ Please Donate to the Ron Santo Walk to Cure Diabetes with Ethan's Crew! http://www.c4i.org/ethan.htmlReceived on Tue Sep 08 2009 - 00:19:14 PDT
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