Topic: Collections
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Handling personal property left in a repossessed vehicle
Q&A: Here’s a question that a Wisconsin credit union recently asked The League’s Legal Affairs team, along with our answer. Do you have a compliance question? Contact The League’s Compliance […]
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League to file “friend of the court” brief in consumer class action suit
NEWS: The Wisconsin Supreme Court has granted a request by The League – together with the Wisconsin Bankers Association and the Wisconsin Financial Services Association – to file a joint “friend […]
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League & bankers join on appeals court brief in dispute over post-repo notice
NEWS: The League and the Wisconsin Bankers Association (WBA) have filed a joint “friend of the court” brief in support of Simplicity Credit Union, in an appeals court case that raises important questions […]
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OCU letter revisits accounting treatment for repossessed assets
NEWS: You may recall a Compliance Courier that The League sent out in July 2021, titled “Examiners focus on accounting treatment for repossessed assets.” In that Courier, we looked at the accounting treatment […]
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Wis. Supreme Court sides with vehicle owner in garage repossession case
NEWS: The Wisconsin Supreme Court has issued an opinion that restricts lenders and towing companies from repossessing vehicles from apartment parking garages. In a December 2020 Compliance Courier, we warned credit unions about a 2020 Wisconsin […]
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CUs should be familiar with new debt collection regs, effective Nov. 30
ANALYSIS: The federal Fair Debt Collection Practices Act (FDCPA) is not new. Designed to curb abusive collections practices, the FDCPA has governed debt collectors’ activities since 1977. But a lack of […]
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#83004 – Wisconsin Open-End Credit Payment Waiver Agreement (Rev. 10/20)
Use for: WCUL Kwik-Cash or R.E.A.P.® Open-End line-of-credit agreements when governed by Wisconsin law. It allows the credit union and borrowers to agree to waive several payments and specify when […]
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#83004 – Wisconsin Open-End Credit Payment Waiver Agreement (Rev. 10/20)
Use for: WCUL Kwik-Cash or R.E.A.P.® Open-End line-of-credit agreements when governed by Wisconsin law. It allows the credit union and borrowers to agree to waive several payments and specify when […]
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B081 WCUL Loan Modification Agreement – Interest Rate and Payment Reduction
This release applies to all Wisconsin credit unions, state and federal. It describes and provides instructions for The League’s Loan Modification Agreement – Interest Rate and Payment Reduction form (WCUL […]
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#83003 – Loan Modification Agreement – Interest Rate and Payment Reduction (Rev. 5/20)
Use for: WCUL Closed-End Simple-Interest Loans when governed by Wisconsin law. It allows the credit union and borrowers to agree to a lower interest rate on a loan, with a […]