In 2021, the London Interbank Offered Rate – the benchmark reference rate that underpinned hundreds of trillions of dollars of finance contracts for three decades – will no longer be used. Patricia Lane and Louis Wahl IV discuss the cessation of what has been called “the world’s most important number,” and offer recommendations for addressing its cessation in credit agreements, securities, and other finance contracts.
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Learn what "blockchain" and "cryptocurrency" mean, where they began, how transactions work, and how this currency is valued in divorces, bankruptcies, and other legal matters.
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An employee embezzled $34 million from Koss Corporation over 10 years, drawing on Koss’s bank accounts at Park Bank. Recently, the Wisconsin Supreme Court ruled Park Bank is not liable despite claims it failed detect the fraud.
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An employee embezzled about $34 million from her employer through banking transactions. The employer sued the bank, asserting a violation of the Wisconsin Uniform Fiduciaries Act, but a state appeals court recently upheld dismissal of the case.
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Robert Zernzach deposited $200,000 into a P.O.D. (payable on death) bank account, naming two beneficiaries on the bank account agreement. Recently, a state appeals court ruled that a handwritten note did not change the P.O.D. beneficiary.
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Every year, many Wisconsin residents contact the state with complaints about negative consumer experiences. This article sketches out the state’s consumer protection apparatus, identifies the most common types of complaints, and suggests best practices for consumers to work out disagreements with businesses.
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The sheer scope and complexity of consumer law is daunting for consumers and practitioners. Consumer protection provisions are scattered among many different statutes and administrative code chapters, but the responsibility for enforcing them rests among several administrative agencies, often with overlapping jurisdiction. Here is an overview of Wisconsin consumer protection laws, and the regulatory agencies responsible for them.
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After numerous delays, the U.S. Department of Labor has now partially implemented a new fiduciary rule for financial professionals providing investment services to retirement plans. Drew Parrish discusses the new fiduciary rule, its implementation status, and how the rule will apply.
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Where do you go when you need statistics on personal income, a Federal Reserve Bulletin from 2005, or the unemployment rate for August 2010? Know the difference between FRED and FRASER? Learn about these eight website powerhouse sources for economic data research.
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Get help with the new state and federal rules on equity crowdfunding – in addition to all the laws and regulations for starting, merging, or buying a business – in the newly revised Securities, Mergers, and Acquisitions in Wisconsin from State Bar of Wisconsin PINNACLE®.
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Real-life vacant houses don’t shelter ghosts or poltergeists, but the problems they cause can be as daunting to vanquish as any fictional apparition. A recent supreme court case illuminates the effect of zombie properties on homeowners, lenders, and surrounding communities. Although the decision offers some resolutions, many questions remain.
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June 4, 2014 – A U.S. person or entity must disclose foreign bank accounts by June 30 every year if the account or accounts exceeded $10,000 during the year. In this article, Madison attorney Frederic Behrens discusses why reporting foreign bank accounts just became very important.
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Do your clients include borrowers, lenders, or businesses that rely on the services of the Mortgage Electronic Registration System (MERS)? If so, you may want to keep your eye on a case that is headed to the Wisconsin Supreme Court.
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One Wisconsin couple escaped, another did not in a pair of recent mortgage fraud rulings relating to loans peddled by the same scamming mortgage broker, accepted by the same unethical bank, and obtained with false statements.
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The State Bar of Wisconsin is set to host the National Mock Trial competition next spring, and organizers of the event are pleased to announce that they have received the largest donation to date – $25,000 – from the Wisconsin Law Foundation.
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March 6, 2013 – Investor abuse is at an all-time high, and the elderly are most at risk. In this video, attorney Jeff Salas discusses how financial abuse occurs, reveals the tell-tale signs of investment harm, and explains how investors can bring claims for harm caused by inappropriate investment sales.
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Jan. 16, 2013 – In this article, Oshkosh attorney Robert Mathers explains major tax provisions of the American Taxpayer Relief Act of 2012, also known as the "fiscal cliff" legislation, and how the law creates challenges for estate planners.
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Oct. 5, 2011 – Gov. Scott Walker called the Wisconsin Legislature into special session on Sept. 29 to consider a number of bills, including four tort reform measures. Learn what's in store for this special session.
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July 13, 2011 – Even though Steven Kilian returned his Mercedes Benz, and received a refund of about $21,000, the lender continued to hound him for his monthly lease payments. That is, until he was forced to file a lawsuit asking them to stop under Wisconsin’s Lemon Law.
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May 18, 2011 – A client seeking legal representation to enforce a collaborative divorce agreement seems legitimate enough, but lawyers should be aware of a scam that nearly duped a local attorney out of approximately $250,000.
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March 17, 2011 – After the brother defaulted on a separate mortgage loan, a Wisconsin appeals court recently applied the doctrine of equitable subrogation to uphold a foreclosure judgment against his sister’s interest in a home they both owned.
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If a foreclosure involves a federal interest, the requirements of 28 U.S.C. § 2410 apply, preempting any conflicting state statutes. This overview helps attorneys navigate the federal process and avoid the common mistakes and problems that can slow down or derail a state foreclosure proceeding.
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Wisconsin’s new uniform power of attorney for finances and property law, which becomes effective Sept. 1, 2010, provides clarity regarding POAs, encourages acceptance of POAs while protecting those who accept them, protects the principal in several important ways, offers guidance to agents, and provides a statutory form.
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Secret offshore accounts – especially Swiss bank accounts – have a certain cachet, having become synonymous with glamour, financial sophistication, and international intrigue. Following the U.S. Justice Department’s 2009 settlement with the United Bank of Switzerland, increased state and federal enforcement efforts against such accounts might dampen their allure.
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Oct. 27, 2009 – Following the U.S. House of Representative’s 400-to-zero vote in favor of a bill to exclude some lawyers from the Federal Trade Commission’s anti-identity theft rules, the legislation heads to the Senate.
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The Wisconsin Uniform Securities Act (WUSA), which became effective on Jan. 1, 2009, clarifies what is a security, modifies how securities professionals are regulated in Wisconsin, and significantly expands the Division of Securities’ enforcement powers. Attorneys representing Wisconsin-based businesses need to be aware of these and other key issues resulting from the adoption of the WUSA.
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Tenants whose landlords are in foreclosure might lose their security deposits and any prepaid rent, face eviction with 24 hours’ notice, and grapple with prospective landlords who refuse to rent to them because they were removed from a residential property because of a mortgage foreclosure. Wisconsin’s new Residential Tenants in Foreclosure Act and recent federal legislation now offer some protections to residential tenants.
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April 15, 2009 – The next time you plan to attend a State Bar seminar, you can add it to your electronic calendar when you register by using WisBar’s new “Add to My Calendar” feature. Once you have registered, click the “Add to My Calendar” hyperlink. You will receive an email notification of your event with instructions on how to save the event to your electronic calendar. The feature works for Outlook and Google users.
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April 15, 2009 – Today, our country is experiencing one of the most troubling economic periods since the Great Depression, and the legal profession is not immune from the effects. These difficult times make finding cost-effective ways to connect with paying clients more important than ever.
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The American Recovery and Reinvestment Act of 2009 makes more than 300 changes to the Internal Revenue Code to provide nearly $300 billion in tax relief and other benefits to individuals, businesses, the environment, and state governments. This summary of the Act’s fundamental tax law changes provides attorneys with the working knowledge they need to advise their clients about the Act’s provisions.
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