Insights from Boardman Clark's Banking Group.
On April 2, 2019, the Wisconsin Supreme Court made it a lot easier for members of a limited liability company to sue each other. Because LLCs are often the preferred organizational structure of banks’ customers, this case might be interesting to your bank.
Associated Bank got caught up in the clutches of a receiver who was trying to find assets on behalf of people who were defrauded in a Ponzi scheme. Though the court ruled in favor of Associated Bank, finding that the circumstantial evidence in the case was insufficient to show actual knowledge, there are lessons to be learned for banks
Recently, some banks have received demand letters from lawyers claiming that they have discriminated against customers (or potential customers) with disabilities by failing to provide websites or mobile applications that are accessible to individuals with disabilities
Shockingly, but correctly under the circumstances, a court in Wisconsin declared a filed UCC financing statement invalid because the secured creditor left too much space between certain parts of the debtor's name. Really!
We have been reporting on developments on the Department of Labor (DOL) overtime exemption rules. As many bankers know, the final regulations that were issued in 2016 would have made a number of changes to the overtime exemptions, including increasing the salary threshold for key exemptions from $455 to $913 per week.
Will the protection under Wisconsin law apply when a bank sends a detailed email to a customer or potential customer regarding a proposal?
In another UCC financing statement case, the United States Bankruptcy Court, Eastern District, Wisconsin, declared a bank's UCC financing statement ineffective because the name of the debtor was placed on the wrong line of the filing form.
The Department of Labor’s Fiduciary Rule has certainly been in the news lately, and has been the source of great confusion.