AB277,42 5Section 42. DFI-Bkg 76.12 (1) (a) (intro.) and (b) (intro.) of the administrative
6code are amended to read:
AB277,18,97 DFI-Bkg 76.12 (1) (a) General licensing period and expiration dates. (intro.)
8The license period for business licenses is 2 years. The administrator of the division
9of banking shall issue business licenses that start and expire on the following dates:
AB277,18,1310 (b) Initial licenses. (intro.) The administrator of the division of banking may
11issue initial licenses that go into effect on dates other than the first day of an
12even-numbered month. The licenses may expire before the end of 2 years, and their
13expiration dates may be assigned as follows:
AB277,43 14Section 43. DFI-Bkg 76.12 (2) of the administrative code is amended to read:
AB277,18,1715 DFI-Bkg 76.12 (2) Licenses run concurrently. A motor vehicle or mobile
16home
license to operate as a sales finance company will be issued to run concurrently
17with the department of transportation dealer licenses.
AB277,44 18Section 44. DFI-Bkg 76.13 of the administrative code is amended to read:
AB277,18,2519 DFI-Bkg 76.13 License fees. (1) The administrator of the division of banking
20shall collect fees based on the statutory formulas described in s. 218.0114 (15), Stats.,
21and elsewhere, which is the number of years in a licensing period multiplied by the
22current annual fee of $50. If the dealer originates and carries or retains time sales
23contracts for more than 30 days in a total amount exceeding $100,000, a bill will be
24issued for additional business license fees due based upon the schedule of fees in s.
25218.0114 (16), Stats.
AB277,19,3
1(2) When the administrator of the division of banking issues an initial license
2for a period less than 2 years, it may reduce the business license fees by the same
3proportion as the reduction in the business license period.
AB277,45 4Section 45. DFI-CU 63.07 (2) (a) (intro.) of the administrative code is
5amended to read:
AB277,19,96 DFI-CU 63.07 (2) (a) (intro.) The liability of a customer of a credit union for
7the unauthorized use of a plastic card or other means providing the customer access
8device to a remote terminal may not exceed the lesser of the following shall be
9determined as follows
:
AB277,46 10Section 46. DFI-CU 63.07 (2) (a) 1. and 2. of the administrative code are
11repealed.
AB277,47 12Section 47. DFI-CU 63.07 (2) (a) 3., 4., 5., 6., 7. and 8. of the administrative
13code are created to read:
AB277,19,1714 DFI-CU 63.07 (2) (a) 3. If the customer notifies the credit union within 2
15business days after learning of the unauthorized use or of loss or theft of the plastic
16card or other access device, the customer's liability may not exceed the lesser of $50
17or the amount of unauthorized transfers that occur before notice to the credit union.
AB277,19,2118 4. If the customer fails to notify the credit union within 2 business days after
19learning of the unauthorized use or of loss or theft of the plastic card or other access
20device, the customer's liability may not exceed the lesser of $500 or the sum of all of
21the following:
AB277,19,2322 a. $50 or the amount of unauthorized transfers that occur within the 2 business
23days, whichever is less.
AB277,20,224 b. The amount of unauthorized transfers that occur after the close of 2 business
25days and before notice to the credit union, if the credit union establishes that these

1transfers would not have occurred had the customer notified the credit union within
2that 2-day period.
AB277,20,123 5. A customer must report an unauthorized transfer from the unauthorized use
4of a plastic card or other access device to a remote terminal that appears on a periodic
5statement within 60 days of the credit union's transmittal of the statement to avoid
6liability for subsequent transfers. If the customer fails to do so, the customer's
7liability may not exceed the amount of the unauthorized transfers that occur after
8the close of the 60 days and before notice to the credit union and that the credit union
9establishes would not have occurred had the customer notified the credit union
10within the 60-day period. When a plastic card or other access device is involved in
11the unauthorized transfer, the customer may be liable for other amounts set forth in
12subd. 3. or 4., as applicable.
AB277,20,1513 6. If the customer's delay in notifying the credit union as provided in subd. 5.
14was due to extenuating circumstances, the credit union shall extend the time
15specified in subd. 5. to a reasonable period.
AB277,20,1816 7. a. Notice to a credit union is given when a customer takes steps reasonably
17necessary to provide the credit union with the pertinent information, whether or not
18a particular employee or agent of the credit union actually receives the information.
AB277,20,1919 b. A customer may notify the credit union in person, by telephone, or in writing.
AB277,20,2420 c. Written notice is considered given at the time the customer mails the notice
21or delivers it for transmission to the credit union by any other usual means. Notice
22may be considered constructively given when the credit union becomes aware of
23circumstances leading to the reasonable belief that an unauthorized transfer to or
24from the customer's account has been or may be made.
AB277,21,3
18. If an agreement between the customer and the credit union imposes less
2liability than is provided by this section, the customer's liability may not exceed the
3amount imposed under the agreement.
AB277,48 4Section 48. DFI-CU 63.07 (2) (b) of the administrative code is amended to
5read:
AB277,21,106 DFI-CU 63.07 (2) (b) A customer furnishing another person with a plastic card
7or other means of access device to the customer's account through a remote terminal
8shall be deemed to authorize all transactions that may be accomplished by that
9means, until the customer has given actual notice to the credit union that further
10transactions are unauthorized.
AB277,49 11Section 49. DFI-CU 63.08 (2) (intro.) of the administrative code is amended
12to read:
AB277,21,2113 DFI-CU 63.08 (2) Transaction documentation. (intro.) Every Except as
14provided in sub. (4), every
transfer of funds through a remote terminal made by a
15customer of a credit union shall be evidenced by a written document made available
16to the customer at the time of the transaction. The document shall indicate with
17reasonable specificity the identity of any third party to whom funds are electronically
18transferred, the identity of the customer's account, the amount of funds transferred,
19the type of transaction, and the date of the transaction. A customer may be required
20to reenter an access device, such as a card, at a terminal in order to receive
21transaction documentation if all of the following conditions are met:
AB277,50 22Section 50. DFI-CU 63.08 (4) of the administrative code is created to read:
AB277,21,2523 DFI-CU 63.08 (4) Exception for written document in small-value transfers.
24A credit union is not subject to the requirement to make available a written
25document under sub. (2) if the amount of the transfer is $15 or less.
AB277,51
1Section 51. DFI-CU 63.09 of the administrative code is repealed.
AB277,52 2Section 52. DFI-SB 12.07 (2) (a) (intro.) of the administrative code is amended
3to read:
AB277,22,74 DFI-SB 12.07 (2) (a) (intro.) The liability of a customer of a savings bank for
5the unauthorized use of a plastic card or other means providing the customer access
6device to a remote service unit may not exceed the lesser of the following shall be
7determined as follows
:
AB277,53 8Section 53. DFI-SB 12.07 (2) (a) 1. and 2. of the administrative code are
9repealed.
AB277,54 10Section 54. DFI-SB 12.07 (2) (a) 3., 4., 5., 6., 7. and 8. of the administrative
11code are created to read:
AB277,22,1512 DFI-SB 12.07 (2) (a) 3. If the customer notifies the savings bank within 2
13business days after learning of the unauthorized use or of loss or theft of the plastic
14card or other access device, the customer's liability may not exceed the lesser of $50
15or the amount of unauthorized transfers that occur before notice to the savings bank.
AB277,22,1916 4. If the customer fails to notify the savings bank within 2 business days after
17learning of the unauthorized use or of loss or theft of the plastic card or other access
18device, the customer's liability may not exceed the lesser of $500 or the sum of all of
19the following:
AB277,22,2120 a. $50 or the amount of unauthorized transfers that occur within the 2 business
21days, whichever is less.
AB277,22,2522 b. The amount of unauthorized transfers that occur after the close of 2 business
23days and before notice to the savings bank, if the savings bank establishes that these
24transfers would not have occurred had the customer notified the savings bank within
25that 2-day period.
AB277,23,10
15. A customer must report an unauthorized transfer from the unauthorized use
2of a plastic card or other access device to a remote service unit that appears on a
3periodic statement within 60 days of the savings bank's transmittal of the statement
4to avoid liability for subsequent transfers. If the customer fails to do so, the
5customer's liability may not exceed the amount of the unauthorized transfers that
6occur after the close of the 60 days and before notice to the savings bank and that the
7savings bank establishes would not have occurred had the customer notified the
8savings bank within the 60-day period. When a plastic card or other access device
9is involved in the unauthorized transfer, the customer may be liable for other
10amounts set forth in subd. 3. or 4., as applicable.
AB277,23,1311 6. If the customer's delay in notifying the savings bank as provided in subd. 5.
12was due to extenuating circumstances, the savings bank shall extend the time
13specified in subd. 5. to a reasonable period.
AB277,23,1614 7. a. Notice to a savings bank is given when a customer takes steps reasonably
15necessary to provide the savings bank with the pertinent information, whether or not
16a particular employee or agent of the savings bank actually receives the information.
AB277,23,1817 b. A customer may notify the savings bank in person, by telephone, or in
18writing.
AB277,23,2319 c. Written notice is considered given at the time the customer mails the notice
20or delivers it for transmission to the savings bank by any other usual means. Notice
21may be considered constructively given when the savings bank becomes aware of
22circumstances leading to the reasonable belief that an unauthorized transfer to or
23from the customer's account has been or may be made.
AB277,24,3
18. If an agreement between the customer and the savings bank imposes less
2liability than is provided by this section, the customer's liability may not exceed the
3amount imposed under the agreement.
AB277,55 4Section 55. DFI-SB 12.07 (2) (b) of the administrative code is amended to
5read:
AB277,24,106 DFI-SB 12.07 (2) (b) A customer furnishing another person with the plastic
7card or other means providing access device to the customer's account through a
8remote service unit shall be deemed to authorize all transactions that may be
9accomplished by that means until the customer has given actual notice to the savings
10bank that further transactions are unauthorized.
AB277,56 11Section 56. DFI-SB 12.08 (2) (intro.) of the administrative code is amended
12to read:
AB277,24,2113 DFI-SB 12.08 (2) Transaction documentation. (intro.) Every Except as
14provided in sub. (4), every
transfer of funds made through a remote service unit by
15a customer of a savings bank shall be evidenced by a written document made
16available to the customer at the time of the transaction. The document shall indicate
17with reasonable specificity the identity of any third party to whom funds are
18electronically transferred, the identity of the customer's account, the amount of
19funds transferred, the type of transaction and the date of the transaction. A customer
20may be required to reenter an access device, such as a card, at a terminal in order
21to receive transaction documentation if all the following conditions are met:
AB277,57 22Section 57. DFI-SB 12.08 (4) of the administrative code is created to read:
AB277,24,2523 DFI-SB 12.08 (4) Exception for written document in small-value transfers.
24A savings bank is not subject to the requirement to make available a written
25document under sub. (2) if the amount of the transfer is $15 or less.
AB277,58
1Section 58. DFI-SB 12.09 of the administrative code is repealed.
AB277,59 2Section 59. DFI-SL 12.07 (2) (a) (intro.) of the administrative code is amended
3to read:
AB277,25,74 DFI-SL 12.07 (2) (a) (intro.) The liability of a customer of an association for the
5unauthorized use of a plastic card or other means providing the customer access
6device to a remote service unit may not exceed the lesser of the following shall be
7determined as follows
:
AB277,60 8Section 60. DFI-SL 12.07 (2) (a) 1. and 2. of the administrative code are
9repealed.
AB277,61 10Section 61. DFI-SL 12.07 (2) (a) 3., 4., 5., 6., 7. and 8. of the administrative
11code are created to read:
AB277,25,1512 DFI-SL 12.07 (2) (a) 3. If the customer notifies the association within 2
13business days after learning of the unauthorized use or of loss or theft of the plastic
14card or other access device, the customer's liability may not exceed the lesser of $50
15or the amount of unauthorized transfers that occur before notice to the association.
AB277,25,1916 4. If the customer fails to notify the association within 2 business days after
17learning of the unauthorized use or of loss or theft of the plastic card or other access
18device, the customer's liability may not exceed the lesser of $500 or the sum of all of
19the following:
AB277,25,2120 a. $50 or the amount of unauthorized transfers that occur within the 2 business
21days, whichever is less.
AB277,25,2522 b. The amount of unauthorized transfers that occur after the close of 2 business
23days and before notice to the association, if the association establishes that these
24transfers would not have occurred had the customer notified the association within
25that 2-day period.
AB277,26,10
15. A customer must report an unauthorized transfer from the unauthorized use
2of a plastic card or other access device to a remote service unit that appears on a
3periodic statement within 60 days of the association's transmittal of the statement
4to avoid liability for subsequent transfers. If the customer fails to do so, the
5customer's liability may not exceed the amount of the unauthorized transfers that
6occur after the close of the 60 days and before notice to the association and that the
7association establishes would not have occurred had the customer notified the
8association within the 60-day period. When a plastic card or other access device is
9involved in the unauthorized transfer, the customer may be liable for other amounts
10set forth in subd. 3. or 4., as applicable.
AB277,26,1311 6. If the customer's delay in notifying the association as provided in subd. 5.
12was due to extenuating circumstances, the association shall extend the time
13specified in subd. 5. to a reasonable period.
AB277,26,1614 7. a. Notice to an association is given when a customer takes steps reasonably
15necessary to provide the association with the pertinent information, whether or not
16a particular employee or agent of the association actually receives the information.
AB277,26,1717 b. A customer may notify the association in person, by telephone, or in writing.
AB277,26,2218 c. Written notice is considered given at the time the customer mails the notice
19or delivers it for transmission to the association by any other usual means. Notice
20may be considered constructively given when the association becomes aware of
21circumstances leading to the reasonable belief that an unauthorized transfer to or
22from the customer's account has been or may be made.
AB277,26,2523 8. If an agreement between the customer and the association imposes less
24liability than is provided by this section, the customer's liability may not exceed the
25amount imposed under the agreement.
AB277,62
1Section 62. DFI-SL 12.07 (2) (b) of the administrative code is amended to read:
AB277,27,62 DFI-SL 12.07 (2) (b) A customer furnishing another person with the plastic
3card or other means providing access device to the customer's account through a
4remote service unit shall be deemed to authorize all transactions that may be
5accomplished by that means until the customer has given actual notice to the
6association that further transactions are unauthorized.
AB277,63 7Section 63. DFI-SL 12.08 (2) (intro.) of the administrative code is amended
8to read:
AB277,27,179 DFI-SL 12.08 (2) Transaction documentation. (intro.) Every Except as
10provided in sub. (4), every
transfer of funds made through a remote service unit by
11a customer of an association shall be evidenced by a written document made
12available to the customer at the time of the transaction. The document shall indicate
13with reasonable specificity the identity of any third party to whom funds are
14electronically transferred, the identity of the customer's account, the amount of
15funds transferred, the type of transaction and the date of the transaction. A
16customer may be required to reenter an access device, such as a card, at a terminal
17in order to receive transaction documentation if all the following conditions are met:
AB277,64 18Section 64. DFI-SL 12.08 (4) of the administrative code is created to read:
AB277,27,2119 DFI-SL 12.08 (4) Exception for written document in small-value transfers.
20An association is not subject to the requirement to make available a written
21document under sub. (2) if the amount of the transfer is $15 or less.
AB277,65 22Section 65. DFI-SL 12.09 of the administrative code is repealed.
AB277,66 23Section 66. Effective dates. This act takes effect on the day after publication,
24except as follows:
AB277,28,2
1(1) The treatment of section 35.93 (2) (b) 4. and (c) 1. and (3) (e) (intro.) and 1.
2of the statutes takes effect on January 1, 2015.
AB277,28,33 (End)
Loading...
Loading...