NBT Bank v. First National Community Bank
United States Court of Appeals for the Third Circuit
393 F.3d 404
Relevant factsFree
FNCB timely returned a dishonored check but encoded it with an incorrect routing number, delaying its return to NBT by three days; NBT nonetheless received actual notice of dishonor on time and the parties stipulated NBT suffered no actual damages from the encoding error, yet NBT sued for the full check amount under the UCC's strict midnight-deadline accountability rule.
IssueFree
Whether Federal Reserve Regulation CC operates to amend the Uniform Commercial Code's midnight-deadline rule, including its damages provisions.