Section 766.565(5),Wis. Stats., the provision permitting a creditor to include in an open-end home equity agreement authorization to declare the account balance due and payable upon receiving notice of termination from a non-obligor spouse, was preempted by the Board of Governors of the Federal Reserve System as being inconsistent with federal law.
DFI: Explanation of Federal Preemption after Spouse Terminates HELOC
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