Bruce Yuille v. Uphold HQ, Inc.

New York, New York personal injury lawyers represented Plaintiff who sued Defendant on an Electronic Fund Transfer Act violation theory.



The complaint contains a single reference to potential failures in the two-factor authentication system with respect to Plaintiff's account.



Plaintiff alerts Defendant of potential irregularities with his account before transferring assets.



Plaintiff also has live claims for violations of New York Business Law § 349 and the Michigan Consumers Protection Act, intentional misrepresentation, negligence, gross negligence, and a declaratory judgment under 28 U.S.C. § 2201.





15 U.S.C. 1693 provides:



Congressional findings and declaration of purpose



(a) Rights and liabilities undefined



The Congress finds that the use of electronic systems to transfer funds provides the potential for substantial benefits to consumers. However, due to the unique characteristics of such systems, the application of existing consumer protection legislation is unclear, leaving the rights and liabilities of consumers, financial institutions, and intermediaries in electronic fund transfers undefined.

(b) Purposes



It is the purpose of this subchapter to provide a basic framework establishing the rights, liabilities, and responsibilities of participants in electronic fund and remittance transfer systems. The primary objective of this subchapter, however, is the provision of individual consumer rights.



Uphold serves 184+ countries, across 200+ currencies (traditional and crypto) and commodities with frictionless foreign exchange and cross-border remittance for members around the world. Since our launch in 2015, Uphold has powered more than US$4+ billion in transactions.



Uphold is a multi-asset digital money platform offering financial services to a global market. Uphold's unique 'Anything-to-Anything' trading experience enables customers to trade directly between asset classes with embedded payments facilitating a future where everyone has access to financial services. Built on a core of proprietary technologies and e-money apps, Uphold embraces a future where people and businesses around the world have access to safe, transparent, fair, and affordable financial services.

Pending