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On July 3, the U.S. Court of Appeals for the First Circuit overturned a district court ruling and allowed a lawsuit by Patco Construction Co. (“Patco”) to proceed against Peoples United Bank (the “Bank”) over $345,000 that was stolen from Patco’s bank accounts through internet fraud in 2009
On June 28, 2011, the Federal Financial Institutions Examination Council (FFIEC) issued a Supplement to the Authentication in an Internet Banking Environment guidance first issued in Oct. 2005
