Wisconsin Banking Update
Providing banking news in Wisconsin that Wisconsin Bankers can use. Keep on top of all the banking issues that are affecting Wisconsin in one place. If you would like to receive these updates by email please subscribe by entering your email address on the right. There is no cost and no obligation.
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Tomah Men Sentenced for $2M Bank Fraud
Posted on March 4th, 2010 No commentsTwo Tomah, Wis., brothers who defrauded two banks of $2 million while trying to keep their auto dealership afloat each were sentenced in federal court to two years in prison and ordered to pay $1.42 million in restitution. The men faced declining sales in 2004 when they began a four-year scheme to defraud the Farmers & Merchants Bank and First Bank of Tomah by pledging cars they didn’t possess as collateral and not repaying bank loans from cars sold, the La Crosse Tribune reported.
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Associated, Elan to Launch New Cards in April
Posted on March 4th, 2010 No commentsGreen Bay, Wis.-based Associated Bank is preparing to launch new credit cards in April under its new strategic partnership with Elan Financial Services, the Business Journal reported.