Contact: Eva Robelia, Communications Officer, 608-261-2271
MADISON— The Department of Revenue has reached settlement agreements with 26 banks totaling over $23 million. These 26 banks are from all across the state and range in size and complexity, but have laid the groundwork for the settlement discussions.
To date, 221 banks—including the 26 with signed agreements– have contacted the Department to discuss their subsidiary use and discuss possible settlement agreements.
“It is encouraging to see such a large amount of banks interested in discussions,” said Wisconsin Department of Revenue Secretary Michael L. Morgan. “The Department will work as quickly as possible to come to settlement agreements with every bank.”
Depending on the size and complexity of a bank, settlement discussions can range from 2 weeks to 2 months; nonetheless, the Department is treating all similarly situated businesses the same to ensure fair and consistent treatment.
