Wisconsin Fringe Banking
| 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
Return to: A helping hand, or new age loan sharking?
