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TRAVELERS CAS. AND SUR. v. WELLS FARGO BANK N.A.

No. 03-1833.

374 F.3d 521 (2004)

TRAVELERS CASUALTY AND SURETY COMPANY OF AMERICA, Plaintiff-Appellant, v. WELLS FARGO BANK N.A. and Charles Schwab & Co., Inc., Defendants-Appellees.

United States Court of Appeals, Seventh Circuit.

Decided July 2, 2004.

Attorney(s) appearing for the Case

Mark E. Wilson (argued), Kerns, Pitrof, Frost & Pearlman, Chicago, IL, for Plaintiff-Appellant.

George R. Dougherty (argued), Grippo & Elden, Ronald P. Kane (argued), Chicago, IL, for Defendants-Appellees.

Before POSNER, EASTERBROOK, and MANION, Circuit Judges.

POSNER, Circuit Judge.

This diversity suit governed by Illinois law raises issues of banking and commercial law. Allianz Life Insurance Company had a checking account at Wells Fargo bank (actually a predecessor of Wells Fargo, but we can ignore that detail) for the payment of benefits to employees covered by Allianz's employee health plan. Charles Schwab, a securities brokerage firm that offers checking services to its customers, received a check for $287,651.23 made...

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