On January 14, students from Cornell Law School’s Securities Law Clinic filed an amicus curiae brief in support of the appellee, the New York Attorney General, in a major lawsuit against Citibank. The brief was submitted to the U.S. Court of Appeals for the Second Circuit, where the nation’s third-largest bank has appealed a district court decision dismissing only some claims brought by the New York Attorney General. As that ruling stands, Citibank must defend allegations that it violated the Electronic Fund Transfer Act (EFTA), a statute designed to protect consumers in electronic transactions.

Carson McNabb ’26

Working under the supervision of Clinic Director William Jacobson and Adjunct Professor Birgitta Siegel, clinic students Carson McNabb ’26 and Olivia Eaton ’26, researched and drafted the brief over the course of a semester. Their work required careful analysis not only of the statute and its legislative history, but also of the mechanics of modern electronic transactions—from consumer-initiated payment orders to interbank wire transfers.

Olivia Eaton ’26

Although the clinic students agreed that the district court correctly applied the plain text of the EFTA, their brief offered an additional perspective: that the statute’s legislative history and underlying public policy independently support affirmance. Drawing on the clinic’s experience representing retail investors and navigating the enforcement landscape of federal securities laws, the students emphasized how a faithful reading of the EFTA advances Congress’s consumer-protection goals.

“Contributing to an amicus brief at the federal appellate level was an incredible learning experience,” said McNabb. “We had to think not only about legal doctrine, but also about how the court’s ruling could affect everyday investors who rely on secure and transparent financial systems.”

The public policy section of the brief highlighted the practical consequences of the court’s decision for electronic fraud victims, many of whom lack the resources to pursue lengthy disputes with financial institutions. By situating the legal arguments within the broader consumer-protection framework of the EFTA, the students sought to underscore the statute’s role in promoting accountability and trust in electronic banking.

Jacobson and Siegel noted that an amicus brief demands rigorous research, precise writing, and good strategic judgment. Students must consider not only what arguments are persuasive, but how best to assist the court in resolving complex legal questions. By combining hands-on client advocacy with appellate engagement, Cornell Law School’s Securities Law Clinic continues to prepare students to serve as thoughtful, effective advocates in the evolving landscape of financial regulation and investor protection.