Wintrust Business Minute: Guaranteed Rate sues competitor for poaching employees in 2023

Wintrust Business Lunch

English - January 09, 2024 18:19 - ★★★★★ - 8 ratings
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Steve Grzanich has the business news of the day with the Wintrust Business Minute. Chicago-based Guaranteed Rate is suing a competitor over claims the competitor poached more than 30 employees in 2023. The lawsuit names New American Funding as defendant and claims the lender illegally let loan officers cut their own compensation to give borrowers […]

Steve Grzanich has the business news of the day with the Wintrust Business Minute.

Chicago-based Guaranteed Rate is suing a competitor over claims the competitor poached more than 30 employees in 2023. The lawsuit names New American Funding as defendant and claims the lender illegally let loan officers cut their own compensation to give borrowers better rates. According to the lawsuit, the poaching by New American cost Guaranteed Rate millions of dollars in lost revenue. Neither company would comment on the legal action, first reported by Crain’s.

Also, the office of Illinois Governor J.B. Pritzker says the governor and his staff have been given assurances by United Airlines that the company is not planning to leave Chicago. Listen for more below:

https://serve.castfire.com/audio/4477345/4477345_2024-01-09-183245.64kmono.mp3