221.0404 Deceptive or misleading use of bank name, logo, or symbol.
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221.0404 Deceptive or misleading use of bank name, logo, or symbol.
(1)Use of bank name, logo, or symbol for marketing purposes. Except as provided in sub.
(3), no person may use the name, logo, or symbol, or any combination thereof, of a bank, or any name, logo, or symbol, or any combination thereof, that is deceptively similar to the name, logo, or symbol of a bank, in any marketing material provided to or solicitation of another person in a manner such that a reasonable person may believe that the marketing material or solicitation originated from or is endorsed by the bank or that the bank is responsible for the marketing material or solicitation.
(2)Enforcement and penalties. The division shall direct any person the division finds to have violated sub.
(1)to cease and desist from violating sub.
(1). If a person violates sub.
(1)after receiving such direction, the division may impose a forfeiture of up to $1,000 for each violation. Each instance in which marketing material is provided to another person or solicitation of another person takes place in violation of sub.
(1)constitutes a separate violation. This subsection does not affect the availability of any remedies otherwise available to a bank.
(3)Exceptions. Subsection
(1)does not apply to a person who uses the name, logo, or symbol of a bank in any of the following circumstances:
(a)With the consent of the bank.
(b)If the person is the bank, an affiliate of the bank, or an agent of the bank.
SUBCHAPTER V
SHARES AND SHAREHOLDERS