CHAPTER 422
CONSUMER CREDIT TRANSACTIONS
SUBCHAPTER I
GENERAL PROVISIONS
SUBCHAPTER II
MAXIMUM CHARGES
422.201 Finance charge for consumer credit transactions.
422.202 Additional charges.
422.203 Delinquency charges.
422.204 Deferral charges.
422.205 Finance charge on refinancing.
422.206 Finance charge on consolidation.
422.207 Advances to perform agreements of customer.
422.209 Rebate on prepayment.
422.210 Agricultural credit transactions.
SUBCHAPTER III
DISCLOSURE AND FORM OF WRITINGS
422.301 Requirements of federal act.
422.302 General requirements and provisions.
422.303 Form requirements other than open-end or discount.
422.304 Prohibition of blank writings.
422.305 Notice to obligors.
422.306 Receipts; accounting; evidence of payment.
422.307 Estimates or approximations.
422.308 Open-end credit disclosures.
422.310 Refund anticipation loans.
SUBCHAPTER IV
LIMITATIONS ON AGREEMENTS AND PRACTICES
422.402 Balloon payments prohibited.
422.403 Maximum periods of repayment.
422.404 Assignment of earnings.
422.405 Authorization to confess judgment prohibited.
422.406 Negotiable instruments.
422.407 Defenses assertable against an assignee.
422.408 Interlocking loans.
422.409 Notice of assignment.
422.410 Statements of compliance or performance.
422.412 Restriction on liability in consumer lease.
422.413 Limitation on default charges.
422.414 Use of multiple agreements.
422.415 Changes in open-end credit terms.
422.4155 Notice of termination of liability.
422.416 Referral transactions prohibited.
422.417 Restrictions on security interests.
422.418 Security interests: consolidations; open-end credit plans.
422.419 Waivers prohibited.
422.420 Cosigner charges.
422.421 Variable rate transaction.
SUBCHAPTER V
CREDIT SERVICES ORGANIZATIONS
422.502 Registration requirements.
422.503 Prohibited activities.
422.504 Information statement.
Ch. 422 Cross-reference
Cross-reference: See definitions in s.
421.301.
GENERAL PROVISIONS
422.101
422.101
Short title. This chapter shall be known and may be cited as Wisconsin consumer act—consumer credit transactions.
422.101 History
History: 1971 c. 239.
422.102
422.102
Scope. This chapter applies to consumer credit transactions.
422.102 History
History: 1971 c. 239.
422.102 Annotation
Wisconsin consumer act—a critical analysis. Heiser, 57 MLR 389.
422.102 Annotation
Wisconsin consumer act—a freak out? Barrett, Jones, 57 MLR 483.
422.102 Annotation
Creditor's responsibilities and duties under the Wisconsin consumer act. Holbrook, Bugge, 1973 WBB No. 1.
422.102 Annotation
Real estate implications of the Wisconsin consumer act. Horton, 1973 WBB No. 1.
422.102 Annotation
The effect of the Wisconsin consumer act on farm credit. Miller, 1973 WBB No. 2.
MAXIMUM CHARGES
422.201
422.201
Finance charge for consumer credit transactions. 422.201(1)(1) With respect to a consumer credit transaction other than one pursuant to an open-end credit plan, the parties may agree to the payment by the customer of a finance charge not in excess of that permitted by
subs. (2) and
(3).
422.201(2)(a)(a) The finance charge, calculated according to the actuarial method, may not exceed the equivalent of the total of the following for a consumer credit transaction entered into on or after April 6, 1980 and prior to November 1, 1981, other than by a federally chartered or state-chartered savings and loan association:
422.201(2)(a)1.
1. Eighteen percent per year on that part of the unpaid balance of the amount financed which is $1,000 or less; and
422.201(2)(a)2.
2. Fifteen percent per year on that part of the unpaid balance of the amount financed which is more than $1,000.
422.201(2)(b)
(b) The finance charge, calculated according to the actuarial method, may not exceed the equivalent of the total of the following for a consumer credit transaction entered into prior to April 6, 1980:
422.201(2)(b)1.
1. Eighteen per cent per year on that part of the unpaid balance of the amount financed which is $500 or less; and
422.201(2)(b)2.
2. Twelve per cent per year on that part of the unpaid balance of the amount financed which is more than $500.
422.201(2)(bm)1.1. The finance charge, calculated according to the actuarial method, may not exceed the greater of the following for a consumer credit transaction entered into on or after November 1, 1981 and before November 1, 1984:
