LexisNexis (January 25, 2019, 11:41 AM EST) -- In a notable decision, the Texas Supreme Court has unanimously ruled that a check fraud loss caused by an identity thief must be borne by the customer whose name was forged. Though the forged check was not “properly payable” under the rules of the UCC, the customer’s failure to timely notify the bank of the wrongful debit precluded recovery. In reaching this conclusion, the court relied on UCC 4-406. The decision seems correct....