January 30th, 2013
EFTA’s ATM Fee Dual Notice Requirement Removed
Banks, credit unions, and independent servicers of ATM services have long been saddled with onerous dual-notice provisions informing consumers of ATM fees under the Electronic Fund Transfer Act, 15 USC § 1693, et seq. (“EFTA”). Originally passed to protect consumers from unwittingly incurring ATM service fees, the dual-notice provisions have been used far more to [...]
January 29th, 2013
Statutory Update: Banks Must Be Vigilant to Comply with Recent Changes to Minnesota’s UCC Financing Statement Rules
On July 1, 2013, Minnesota’s adoption of recent changes to its codification of the Uniform Commercial Code (UCC) become effective. For financial institutions, one of the most important changes is the stricter requirements for filing a financing statement (UCC-1) in the correct “name of the debtor.” Section 9-503(a), as amended, provides as follows: (4) … [...]
October 20th, 2012
Democracy at Work
With election day looming (November 8), it’s a good time to brush up on voting leave law in our area. On election day in Minnesota, employers must grant all workers eligible to vote (age 18, legal citizen, whose voting rights have not been rescinded by felony conviction) the time off necessary for the worker to [...]