fedgazette

Wisconsin Fringe Banking

Published October 1, 2000  |  October 2000 issue

Payday Loans Check Cashing Title Loans Pawnbroking
How Many?
195
How Many?
63
How Many?
26
How Many?
20, according to state figures; however, state licensing is required only for those making loans of $150 or more; a national business-to-business marketing firm put the state total at 50.
Licensing:
Department of Financial Institutions
Licensing:
Department of Financial Institutions
Licensing:
Department of Financial Institutions
Licensing:
Department of Financial Institutions, municipalities
Fee caps:
None, but a bill has been introduced to cap APR on payday loans at 36 percent.
Fee caps:
None.
Fee caps:
None, but a bill has been introduced to cap APR on payday loans at 36 percent.
Interest rate caps:
capped at 3 percent monthly, or 36 percent APR.

Source: Wisconsin Department of Financial Institutions

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