AB554-SA1,2,2
1(a) Costs incurred by the financial institution, plus a profit margin, in
2providing a service.
AB554-SA1,2,33 (b) The deterrence of misuse by customers of financial institution services.
AB554-SA1,2,54 (c) The enhancement of the competitive position of the financial institution in
5accord with the financial institution's marketing strategy.
AB554-SA1,2,66 (d) Maintenance of the safety and soundness of the financial institution.
AB554-SA1,2,9 7(4) Remedies. (a) A financial institution that violates this section is liable to
8the customer in an amount equal to 3 times the actual damages sustained as a result
9of the violation.
AB554-SA1,2,1110 (b) A customer entitled to relief under par. (a) is also entitled to recover costs,
11disbursements and reasonable attorney fees, notwithstanding s. 814.04 (1).".
AB554-SA1,2,13 123. Page 4, line 1: before that line, after page 4, line 15, of the material inserted
13by assembly amendment 2, insert:
AB554-SA1,2,14 14" Section 1r. 214.597 of the statutes is created to read:
AB554-SA1,2,16 15214.597 Unconscionable service charges. (1) Definition. In this section,
16"financial institution" has the meaning given in s. 705.01 (3).
AB554-SA1,2,21 17(2) Unconscionability. If a court as a matter of law finds that a service charge
18imposed by a financial institution on a customer is unconscionable, the court shall,
19in addition to the remedies authorized under sub. (4), either refuse to enforce the
20service charge against the customer, or so limit the application of any unconscionable
21aspect as to avoid an unconscionable result.
AB554-SA1,2,24 22(3) Factors. Without limiting the scope of sub. (2), the court may consider,
23among other things, any of the following as pertinent to the issue of
24unconscionability:
AB554-SA1,3,2
1(a) Costs incurred by the financial institution, plus a profit margin, in
2providing a service.
AB554-SA1,3,33 (b) The deterrence of misuse by customers of financial institution services.
AB554-SA1,3,54 (c) The enhancement of the competitive position of the financial institution in
5accord with the financial institution's marketing strategy.
AB554-SA1,3,66 (d) Maintenance of the safety and soundness of the financial institution.
AB554-SA1,3,9 7(4) Remedies. (a) A financial institution that violates this section is liable to
8the customer in an amount equal to 3 times the actual damages sustained as a result
9of the violation.
AB554-SA1,3,1110 (b) A customer entitled to relief under par. (a) is also entitled to recover costs,
11disbursements and reasonable attorney fees, notwithstanding s. 814.04 (1).".
AB554-SA1,3,12 124. Page 5, line 8: after that line insert:
AB554-SA1,3,13 13" Section 2m. 215.39 of the statutes is created to read:
AB554-SA1,3,15 14215.39 Unconscionable service charges. (1) Definition. In this section,
15"financial institution" has the meaning given in s. 705.01 (3).
AB554-SA1,3,20 16(2) Unconscionability. If a court as a matter of law finds that a service charge
17imposed by a financial institution on a customer is unconscionable, the court shall,
18in addition to the remedies authorized under sub. (4), either refuse to enforce the
19service charge against the customer, or so limit the application of any unconscionable
20aspect as to avoid an unconscionable result.
AB554-SA1,3,23 21(3) Factors. Without limiting the scope of sub. (2), the court may consider,
22among other things, any of the following as pertinent to the issue of
23unconscionability:
AB554-SA1,4,2
1(a) Costs incurred by the financial institution, plus a profit margin, in
2providing a service.
AB554-SA1,4,33 (b) The deterrence of misuse by customers of financial institution services.
AB554-SA1,4,54 (c) The enhancement of the competitive position of the financial institution in
5accord with the financial institution's marketing strategy.
AB554-SA1,4,66 (d) Maintenance of the safety and soundness of the financial institution.
AB554-SA1,4,9 7(4) Remedies. (a) A financial institution that violates this section is liable to
8the customer in an amount equal to 3 times the actual damages sustained as a result
9of the violation.
AB554-SA1,4,1110 (b) A customer entitled to relief under par. (a) is also entitled to recover costs,
11disbursements and reasonable attorney fees, notwithstanding s. 814.04 (1).".
AB554-SA1,4,12 125. Page 21, line 20: after that line insert:
AB554-SA1,4,13 13" Section 34m. 224.19 of the statutes is created to read:
AB554-SA1,4,15 14224.19 Unconscionable service charges. (1) Definition. In this section,
15"financial institution" has the meaning given in s. 705.01 (3).
AB554-SA1,4,20 16(2) Unconscionability. If a court as a matter of law finds that a service charge
17imposed by a financial institution on a customer is unconscionable, the court shall,
18in addition to the remedies authorized under sub. (4), either refuse to enforce the
19service charge against the customer, or so limit the application of any unconscionable
20aspect as to avoid an unconscionable result.
AB554-SA1,4,23 21(3) Factors. Without limiting the scope of sub. (2), the court may consider,
22among other things, any of the following as pertinent to the issue of
23unconscionability:
AB554-SA1,5,2
1(a) Costs incurred by the financial institution, plus a profit margin, in
2providing a service.
AB554-SA1,5,33 (b) The deterrence of misuse by customers of financial institution services.
AB554-SA1,5,54 (c) The enhancement of the competitive position of the financial institution in
5accord with the financial institution's marketing strategy.
AB554-SA1,5,66 (d) Maintenance of the safety and soundness of the financial institution.
AB554-SA1,5,9 7(4) Remedies. (a) A financial institution that violates this section is liable to
8the customer in an amount equal to 3 times the actual damages sustained as a result
9of the violation.
AB554-SA1,5,1110 (b) A customer entitled to relief under par. (a) is also entitled to recover costs,
11disbursements and reasonable attorney fees, notwithstanding s. 814.04 (1).".
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