David Navetta writes:
Security breaches in the online banking world continue to yield interesting lawsuits (you can read about three others in this post). The latest online banking lawsuit filed by Experi-Metal Inc. (“EMI”) against Comerica (the “EMI Lawsuit”) provides some new wrinkles that could further illuminate the boundaries of “reasonable security” under the law. Brian Krebs has a good article summarizing the case. In addition, bankinfosecurity.com has a recent article on this matter (in which yours truly was quoted). In this post we take a look at the EMI Lawsuit, consider some legal questions that the case raises, and analyze how it might impact the question of what constitutes “reasonable security” under the law.
Read his commentary and legal analysis on InformationLawGroup.