Many, if not most, of the lenders who are reading this article have probably responded to one or more garnishments in their career. Many lenders see these collection tools as an administrative burden to respond to – and a burden they are not adequately compensated for with the nominal $15.00 fee that must be served...

As Benjamin Franklin once said, “in this world nothing can be said to be certain, except death and taxes.” While banks cannot help with taxes, they certainly play a role in the handling of financial assets after a customer passes. The death of a customer presents a unique set of challenges for banks. Community banks...

Replevin actions are a versatile tool for obtaining or regaining personal property which you have the right to possess. In Minnesota, replevin actions are also known by the more modern phrase, “claim and delivery of personal property,” and are governed by a statutory scheme found in Minnesota Statutes chapter 565. Lenders often use replevin actions...

The new rule provides details on the implementation of the Pregnant Workers Fairness Act (PWFA) (42 USC 2000). PWFA provides employees certain rights regarding pregnancy, childbirth, and related conditions.  (§1636.1.) Like most modern statutes, when our elected legislators passed PWFA, they left many details to be filled in by unelected bureaucrats in the executive branch. The new rule provides those details.

Statutory Title: Minnesota Secure Choice Retirement Program ActStatutory Citation: Minnesota Statutes section 187.01-.08.Bill Number: House File 782Issuing Body: State of MinnesotaDate Enacted: May 19, 2023Effective Date: The statute is immediately effective, but the obligations of employers will not be operative until the program is fully established, which looks to be January 1, 2025.In Brief: The...

Payable on death accounts. Your institution probably issues them on a regular basis, but how much do you really know about them? Whether you’re a banking veteran or new to the game, it’s always a good time to familiarize yourself with what they are, what they are for, and what you, the financial institution, do...

As the world continues its shift towards electronic and virtual means of conducting business, lenders and lawyers remain stalwart in their commitment to physical paper, or at a minimum, PDFs with ink or e-signatures. However, our worlds are not immune to the encroachment of increasingly virtual and informal means of communicating and conducting business, even...