Wisconsin s BBB, DFI warn businesses about misleading solicitations
MILWAUKEE (CBS 58) The Wisconsin Department of Financial Institutions (DFI) and the Better Business Bureau Serving Wisconsin (BBB) are warning businesses about solicitations designed to look like invoices arriving through postal mail and being reported to both DFI and BBB from “WI Certificate Service.”
According to a joint news release from the DFI and BBB, the solicitation is designed to look like it is from the Secretary of State and requests payment of $72.50 for a “Certificate of Status.” The solicitation is not being sent by DFI, and the requested payment amount far exceeds the $10 fee DFI charges to obtain an official certificate of status online. The solicitation is not a valid invoice and businesses are advised to not pay it.
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MADISON, Wis. – Wisconsin’s 118 state-chartered credit unions, three federal credit unions, and a corporate credit union reported strong fiscal performance through year-end 2020, according to data released today by the Wisconsin Department of Financial Institutions (DFI).
In mid-March 2020, Wisconsin credit unions adjusted operations amid the COVID-19 pandemic and continued to provide financial services to their members and communities they serve. Despite an influx of shares and deposits during the year, the financial performance of state-chartered credit unions remains strong.
Key financial indicators include:
Total assets as of December 31, 2020 were $49.5 billion. Assets increased by $8.5 billion, a growth rate of 20.59%.
Net worth increased by $494.4 million, an increase of 10.57%. Total net worth at year-end was $5.2 billion, a capital adequacy ratio of 10.45%.
John Grande. Photo from the Wisconsin Department of Financial Institutions.
John Grande as the Administrator for DFI’s Division of Banking. Grande will lead a staff of 52 employees who oversee the regulation and examination of state-chartered banks, savings institutions, and consumer financial service industries.
“Throughout John’s career he successfully grew insurance programs, implemented market awareness campaigns, established management performance goals, and inspired collaboration between several business lines,” said DFI Secretary
Kathy Blumenfeld. “John is an outstanding leader known for his use of facts, data, and the ability to innovate. I am confident he will do a great job leading the Division of Banking and protecting the safety and soundness of Wisconsin’s financial institutions and consumers of financial products.”