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Associated is Biggest SBA Lender
Posted on December 12th, 2008 No commentsAssociated Bank once again is Wisconsin’s top Small Business Administration lender, making 400 SBA loans totaling $30 million in the 2008 fiscal year, theMilwaukee Journal Sentinel reported.
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Mortgage Mediation Proposed
Posted on December 12th, 2008 No commentsA lender would have to offer mediation to homeowners in default on their mortgage before foreclosure could proceed, under legislation state Sen. Lena Taylor said she will propose. Her Mortgage Mediation Act would let borrowers negotiate remedies such as adjusting the interest rate or principal, extending the repayment period, or modifying loan terms, according to a story in the Milwaukee Journal Sentinel.
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Family Change at InvestorsBank
Posted on December 12th, 2008 No commentsThe two daughters of InvestorsBank founder and chief executive officer George Schonath have taken 100 percent voting control of the bank after their father’s recent death from cancer, while Timothy Schadeberg serves as president of the $281 million-asset Pewaukee bank, the Business Journal of Milwaukee reported.
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Bill Gives Retirees New Option
Posted on December 12th, 2008 No commentsCongressman James Sensenbrenner is co-sponsoring federal legislation that would suspend the mandatory minimum withdrawal requirement from retirement accounts for 2008 and 2009, allowing retirees age 70˝ and older to keep their money in the market if they choose. Read more in the Business Journal of Milwaukee.
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Wis. Securities Law Updated
Posted on December 12th, 2008 No commentsThe market outlook may not look good, but the state of Wisconsin has recently adopted legislation to protect consumers and companies who deal in securities. On Jan. 1, 2009, a state-adapted version of the National Conference of Commissioners on Uniform State Laws’ 2002 Uniform Securities Act will go into effect and marks the first major overhaul of the law in 40 years, the Small Business Times reported.