POSTED: Tuesday, May 17th, 2011 at 12:57 pm

BY: WISCONSIN LAW JOURNAL STAFF

Consumer Protection Banking A borrower must suffer at least some actual injury or damage to sue under sec. 224.80(2) because a mortgage broker did not use the correct forms prepared by the DFI. “To read the statute as Avudria suggests, as a strict liability statute permitting a private cause of action for a mere technical [...]

POSTED: Thursday, May 5th, 2011 at 12:57 pm

BY: WISCONSIN LAW JOURNAL STAFF

Banking Preemption Where a federal directive ordered the exchange of stock, the exchange can’t be challenged as a fraudulent transfer. “We do not agree with M&I that the OTS guidance materials provide a basis for concluding that OTS selected an improperly formatted or procedurally defective vehicle to accomplish its unambiguous objective. OTS gave unambiguous direction, [...]

POSTED: Tuesday, April 26th, 2011 at 12:41 pm

BY: WISCONSIN LAW JOURNAL STAFF

Civil Banking Persons who only received solicitations, but no services, from a mortgage broker cannot recover damages from the surety posted by the broker. “We conclude that the members of the Privacy Class are not ‘persons to whom [All Cities] provided services,’ and, therefore, Hartford is not required to pay the judgment rendered against All [...]