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NOTICE OF PENDENCY OF CLASS ACTION, PROPOSED SETTLEMENT AND HEARING
All persons who during the three (3) year period preceding the filing of the Complaint through February 11, 2026 (a) have or had a vehicle installment consumer finance agreement contract (“Loan Agreement”) held by BMO under which personal property was held as collateral; and (b) had the personal property repossessed in Wisconsin by BMO or its agents; and (c) who have not obtained a discharge in bankruptcy applicable to any such Loan Agreement; and (d) to whom BMO sent a Notice of Sale which advised “to learn the exact amount you owe or to obtain information about from whom the collateral may be recovered, you can contact us toll free ...” (“Settlement Class”).
Please Read The Notice Carefully In Its Entirety
Your Rights May Be Affected By The Settlement
Of This Lawsuit Now Pending In This Court
Why was the notice issued?
A court authorized this notice because you have a right to know about a Proposed Settlement of this class action lawsuit brought against BMO Bank, N.A. (“BMO”) and about your options before the Court decides whether to give “final approval” to the Proposed Settlement. This notice explains the lawsuit, the Proposed Settlement, your legal rights, what benefits will be provided, and who will receive them.
This case is currently pending in the Circuit Court for Milwaukee County, Wisconsin and is known as Ean J. Tobiason v. BMO Bank, N.A., Case No.: 2024CV003245.
What is the lawsuit About?
The lawsuit is about whether repossession notices of BMO contained all of the information and disclosures required by Wisconsin law. Specifically, the lawsuit seeks damages for (i) violations of Wisc. Stat. §§ 409.611 409.614 , and 409.625 of the Uniform Commercial Code; and (ii) declaratory and injunctive relief.
BMO denies that its repossession notices are in violation of Wisconsin law and maintains that it did not act wrongfully or unlawfully. BMO contends that the claims of Ean J. Tobiason (hereinafter “Representative Plaintiff”) have no merit and that, if the lawsuit proceeded, BMO would prevail at trial. In addition, BMO contends that certain members of the Class owe BMO money for balances still due on their accounts.
Why is this a class action?
The parties have agreed, and the Court has ordered that, for settlement purposes only, this lawsuit may be maintained as a class action under Wisc. Stat. § 803.08, subject to final approval at the conclusion of the settlement process. If the Proposed Settlement is not finally approved, or if any party withdraws from the Proposed Settlement, the lawsuit will return to the same status as before the Settlement Agreement was signed, and the Court will later determine if the case may proceed as a class action. BMO has challenged whether this case should proceed as a class action but has agreed not to oppose certification of a class for settlement purposes only.
Why is there a Proposed Settlement?
The parties arrived at the Proposed Settlement as a result of arms-length negotiations, including a day-long mediation conducted before Michael J. Cohen, Esq. The parties reached the Proposed Settlement before the Court determined whether class certification was appropriate. The Proposed Settlement is a compromise of disputed claims and does not mean that any law was violated or that BMO did anything wrong.