LexisNexis (May 3, 2018, 10:41 AM EDT) -- For banks that are sued for losses caused by a fraudster in a wire transfer scheme, by far the most important defense is the preemptive power of the UCC rules over common-law claims such as negligence, conversion, or breach of contract. If the fraud scheme is within the scope of UCC Article 4A, the bank can argue that any common-law claims that conflict with the UCC rules are displaced by the rules of the statute. Over the last 20 years, we have seen a huge amount of litigation on this issue. The most recent example, where the bank won on a motion to dismiss, is a notable decision from California....