IBAT's goal is to provide a diversity of opinions and viewpoints
about national banking news. Some news articles do not necessarily
reflect the opinion of the Independent Bankers Association of Texas.
Bankers Digest Featured Articles
November 7, 2011 Issue
Source: “One Court of Justice Blog,” Warner Norcross & Judd, Appellate Group Practice
In Estate of Thelma L. DeGoede, by Vella Trader v Comerica Bank, f/k/a Industry State Bank & Trust Company, No. 296129, the State of Michigan Court of Appeals held that the statute of limitations did not bar a plaintiff’s claim against a bank for failing to honor three certificates of deposit (CDs), reasoning that “the statute of limitations does not begin to run until a demand for payment has been made” and rejecting the defendant’s argument that the statute of limitations begins to run when a CD matures. The publication date of the case is June 30, 2011... read more.