The Wisconsin Supreme Court accepted WBA’s amicus brief in the Koss Corp. v. Park Bank case. The case takes up the issue of what constitutes “bad faith” under Wisconsin’s Uniform Fiduciary Act (UFA). The trial court and the Wisconsin Court of Appeals both found in favor of Park Bank. There has been very little case law in Wisconsin interpreting “bad faith” under the UFA. The decision which will be made by the Wisconsin Supreme Court will be critical to banks by establishing a lasting definition of “bad faith” with which all banks must comply to avoid liability under the UFA. The American Bankers Association signed on to WBA’s brief.

Read the brief here.