CHAPTER 220
BANKING
220.01   Definitions.
220.02   Division; duties.
220.035   Banking institutions review board.
220.04   Powers of division.
220.05   Examination fees and assessments.
220.06   Not to disclose information.
220.065   Immunity.
220.07   Banks; impairment of capital.
220.08   Delinquent banks; division may take possession.
220.081   Closed insured banks; federal deposit insurance corporation may be receiver.
220.082   Closed insured banks; subrogation of federal deposit insurance corporation.
220.085   Federal aid to banks.
220.086   Receiver of delinquent bank may borrow from federal government agency; court order.
220.09   Indemnity fund, national bank.
220.10   Books and accounts; division's control.
220.12   Attorney general, duty of.
220.13   Copies as evidence.
220.14   Division's report.
220.17   Effect of consolidating banks and trust companies.
220.18   Bank or corporate notaries; permitted acts.
220.285   Reproduction and destruction of records; evidence.
220.30   Closing in emergencies.
220.32   Transfer of trust business within bank holding company groups.
220.01 220.01 Definitions. As used in chs. 220 to 224:
220.01(1) (1)Unless the context requires otherwise, the term “bank" means any banking institution incorporated under the laws of this state.
220.01(1e) (1e)“Department" means the department of financial institutions.
220.01(1m) (1m)“Division" means the division of banking.
220.01(2) (2)The term “lawful money" means all forms of money issued by or under the authority of the United States as a circulating medium, and includes any form of certificate declared to be lawful money by any law of the United States.
220.01 History History: 1983 a. 189; 1991 a. 221; 1993 a. 213; Stats. 1993 s. 220.01; 1995 a. 27; 1997 a. 191.
220.02 220.02 Division; duties.
220.02(2)(2)The division shall enforce all laws relating to banks and banking in this state, and shall enforce and cause to be enforced every law relating to the supervision and control thereof, including those relating to:
220.02(2)(a) (a) State banks under this chapter and ch. 221 and trust company banks under ch. 223.
220.02(2)(b) (b) The lending of money under s. 138.09 or 138.14, or those relating to finance companies, motor vehicle dealers, adjustment service companies, community currency exchanges and collection agencies under ch. 218.
220.02(2)(c) (c) Money transmitters under ch. 217.
Effective date note NOTE: Par. (c) is shown as amended eff. 1-1-25 by 2023 Wis. Act 267. Prior to 1-1-25 it reads:
Effective date text (c) Sellers of checks under ch. 217.
220.02(2)(d) (d) Fiduciary operations of organizations under ss. 220.04 (7) and 223.105.
220.02(2)(e) (e) Savings banks under ch. 214.
220.02(2)(f) (f) Savings and loan associations under ch. 215.
220.02(2)(g) (g) Mortgage bankers, mortgage loan originators, and mortgage brokers under subch. III of ch. 224.
220.02(2)(h) (h) Nondepository small business lenders under subch. IV of ch. 224.
220.02(2)(i) (i) Insurance premium finance companies under s. 138.12.
220.02(2)(j) (j) Earned wage access services providers under ch. 203.
Effective date note NOTE: Par. (j) is created eff. 9-1-24 by 2023 Wis. Act 131.
220.02(3) (3)It is the intent of sub. (2) to give the division jurisdiction to enforce and carry out all laws relating to banks or banking in this state, including those relating to state banks, savings banks, savings and loan associations, and trust company banks, and also all laws relating to small loan companies or other loan companies or agencies, finance companies, insurance premium finance companies, earned wage access services providers, motor vehicle dealers, adjustment service companies, community currency exchanges, mortgage bankers, mortgage loan originators, mortgage brokers, and collection agencies and those relating to sellers of checks under ch. 217, whether doing business as corporations, individuals, or otherwise, but to exclude laws relating to credit unions.
Effective date note NOTE: Sub. (3) is shown as amended eff. 9-1-24 by 2023 Wis. Act 131, section 7. Prior to 9-1-24 it reads:
Effective date text (3) It is the intent of sub. (2) to give the division jurisdiction to enforce and carry out all laws relating to banks or banking in this state, including those relating to state banks, savings banks, savings and loan associations, and trust company banks, and also all laws relating to small loan companies or other loan companies or agencies, finance companies, insurance premium finance companies, motor vehicle dealers, adjustment service companies, community currency exchanges, mortgage bankers, mortgage loan originators, mortgage brokers, and collection agencies and those relating to sellers of checks under ch. 217, whether doing business as corporations, individuals, or otherwise, but to exclude laws relating to credit unions.
Effective date note NOTE: Sub. (3) is amended eff. 1-1-25 by 2023 Wis. Act 131, section 7s, and 2023 Wis. Act 267 to read:
Effective date text (3) It is the intent of sub. (2) to give the division jurisdiction to enforce and carry out all laws relating to banks or banking in this state, including those relating to state banks, savings banks, savings and loan associations, and trust company banks, and also all laws relating to small loan companies or other loan companies or agencies, finance companies, insurance premium finance companies, earned wage access services providers, motor vehicle dealers, adjustment service companies, community currency exchanges, mortgage bankers, mortgage loan originators, mortgage brokers, and collection agencies and those relating to money transmitters under ch. 217, whether doing business as corporations, individuals, or otherwise, but to exclude laws relating to credit unions.
220.02(5) (5)Except for acts and decisions of the division under chs. 138, 217, and 218, any interested person or any bank or banking corporation aggrieved by an act, order, or determination of the division may, within 10 days from the date thereof, apply to the banking institutions review board to review the same. All such applications for review shall be considered and disposed of as speedily as possible. The banking institutions review board may require the division to submit any of the division's actions subject to such review to said board for its approval.
220.02 Cross-reference Cross-reference: See also DFI-Bkg, Wis. adm. code.
220.02 Annotation The test for whether this state can, consistent with due process, exercise its police power to regulate an out-of-state entity is whether the out-of-state entity has incidents and requires activities within the state intimately related to local welfare. In this case, the contacts between the entity and residents of this state, coupled with the state's interest in exercising its police power by enforcing its law governing adjustment service companies, sufficed to satisfy due process. Payday Loan Resolution, LLC v. DFI, 2019 WI App 28, 388 Wis. 2d 117, 931 N.W.2d 279, 18-0821.
220.035 220.035 Banking institutions review board.
220.035(1)(a) (a) The banking institutions review board shall advise the division and others in respect to improvement in the condition and service of banks and banking business in this state and shall review the acts and decisions of the division with respect to banks, except for such acts and decisions of the division under chs. 138, 217, and 218, and shall perform such other review functions in relation to banking as are provided by law. The banking institutions review board may require the division to submit any of the division's actions to it for its approval. The board may make rules of procedure as provided in ch. 227.
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2021-22 Wisconsin Statutes updated through 2023 Wis. Act 272 and through all Supreme Court and Controlled Substances Board Orders filed before and in effect on July 9, 2024. Published and certified under s. 35.18. Changes effective after July 9, 2024, are designated by NOTES. (Published 7-9-24)