SB 457, the WBA-supported Omnibus Bill had a hearing last week in front of the Senate Committee on Agriculture, Revenue and Financial Institutions.
Testifying on behalf of the banking industry were Lauren Capitini, Boardman & Clark LLP; Dave Feldhaus, Federal Home Loan Bank of Chicago; Jim Sheriff, Reinhart Boerner Van Deuren S.C.; and Jon Turke, WBA.
The Assembly version of this bill is expected to be heard in October as well.
Like previous WBA Omnibus bills, this addresses several clarifications needed in the law for banks on several issues like P.O.D. accounts, property subject to garnishment or tax levy in possession of a financial institution, and more. For a full breakdown of the bill and how it helps Wisconsin’s banks, visit WBA’s Banconomics website by clicking here.