» Banking/Credit Unions

What is the highest interest rate I can charge?

October 5th, 2015
Most of the time the highest interest rate an individual can charge another individual is 5% per year if there is no written agreement such as a promissory note documenting the loan. The highest rate an individual can charge another individual is 7%… Read More
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Categories: Banking/Credit Unions

Authority of Agent and type of bank account hurdles to summary disposition for check fraud

October 15th, 2012
In an unpublished opinion dated October 9, 2012 in Michalik v JP Morgan Chase Bank, the Michigan Court of Appeals reversed the Wayne Circuit Court’s order granting summary disposition in favor of Chase because there was a question of material fact… Read More
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Categories: Banking/Credit Unions

Bill Schuette against the Frank Dodd Act

September 24th, 2012
Michigan Attorney General Bill Schuette has joined the Attorneys General of South Carolina and Oklahoma, along with private party plaintiff’s Competitive Enterprise Institute, State National Bank of Big Spring, and the 60-Plus Association in challe… Read More
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Categories: Banking/Credit Unions

Thank you Community Bankers of Michigan!

September 21st, 2012
Hundreds of Michigan’s leading community bankers converged on Traverse City, Michigan this September for the 2012 Community Bankers of Michigan Convention and Trade Show. The bankers, bank service providers, and exhibitors were able to enjoy scenic… Read More
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Categories: Banking/Credit Unions

Recent lawsuits filed regarding ATM fee notices

July 15th, 2010
Plaintiffs’ attorneys in Michigan are having potential plaintiffs troll ATMs searching for an absence of required notices. Generally, the Electronic Fund Transfer Act requires posting of fee notices on both the ATM itself and on the ATM screen… Read More
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Categories: Banking/Credit Unions