Another Court Declares Bank UCC Filing Ineffective – This Time For Incorrect Location of Debtor's Name On UCC Filing Form

John Knight

August 10, 2017

Earlier this year I discussed with you a recent court case declaring a UCC financing statement ineffective because the debtor's middle name was misspelled.  Now, in another UCC financing statement case, the United States Bankruptcy Court, Eastern District, Wisconsin, in Bruce A. Lanser, Trustee v. First Bank Financial Centre, 568 B.R. 797 (March 17, 2017),…

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The Fiduciary Rule: Making Sense Out of Implementation Chaos

Kirsten Spira

July 25, 2017

The Department of Labor’s Fiduciary Rule has certainly been in the news lately, and has been the source of great confusion.  Not only is the rule confusing, its implementation is confusing. The market is unsure of what the rules will ultimately require, and when they will be in place. In very simplistic, non-legal terms, the…

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What Happened to the Department of Labor’s Overtime Exemption Rule?

Jennifer Mirus

June 27, 2017

Many banks, along with other employers, scrambled during the course of 2016 to assess and make changes to their pay structures in order to comply with the Department of Labor’s proposed overtime exemption rule.  As you may recall, the proposed rule that was to go into effect December 1, 2016, significantly raised the minimum annual…

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Pre-divorce Guarantee of Loans Applies to Post-divorce Loans Based On Language in WBA Continuing Guaranty Form

John Knight

June 14, 2017

In a recent case before the Wisconsin Court of Appeals, language in the WBA continuing guaranty (unlimited) form helped the Bank obtain a court victory against a guarantor.  In this case, Daniel, the guarantor, signed a WBA 151 Continuing Guaranty (Unlimited) in December, 2005, to guarantee the Bank's loans to Carol, who was married to…

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Key Takeaways from FDIC’s May 31st Community Banking Initiative - "Strategies for Successful De Novo Bank Applications"

Kirsten Spira

June 1, 2017

On May 31, Patrick Neuman and I attended the FDIC’s Community Banking Initiative in Chicago, at which the assembled group heard presentations on and discussed “Strategies for Successful De Novo Bank Applications.”  As we all know, there have been few de novo bank applications since the Great Recession.  Recognizing the value community banks provide to…

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