LexisNexis (October 8, 2018, 9:55 AM EDT) -- In our prior story, the employer of an embezzling bookkeeper was able to impose liability against the employer’s bank in a suit brought by the employer against its bank. In another recent New York case involving similar facts, the displacement principle precluded recovery against the bank (Citibank). Moreover, the fraud-loss allocation rules of the UCC, as well as the customer’s failure to timely report the embezzlement, allowed the bank to prevail....