Wisconsin Consumer Act Registration Requirements

​​​​​​​​​​​​​​​​Who Must File​

Any business that makes, purchases, or solicits consumer credit transactions or directly collects payments from, or enforces rights against, customers arising from such transactions, wherever made, is subject to the registration filing statutes Wis. Stat. s. 426.201​.  You must file a registration and submit a $25 fee within 30 days of commencing business in Wisconsin. Future filing is required annually only if your outstanding balance of all consumer credit transactions as of December 31 is over $250,000. Businesses solely honoring credit cards issued by a third party not related to the business are not required to file. Annual registrations are due each February 28 for the previous calendar year.​​

Wisconsin Consumer Act Registration for Initial Filers​​

​​​​​Definition​ of a Consumer Credit Transaction

Generally, a consumer credit transaction is any loan, lease, or sale under $25,000 primarily made for a personal, family, or household purpose on which a finance charge is or may be assessed or is payable in more than four installments. For a complete definition and exclusions from the definition, see Wis. Stat. Ch. 421.

Some examples include:

  • Consumer and student loans​

  • Single-pay notes, where interest is assessed

  • Account receivables that are payable in more than four installments or on which a finance charge is assessed​​

  • Second mortgages if the institution holding the second mortgage does not hold the first mortgage

  • Checking account overdraft protection programs

​Examples of transactions that are not consumer credit transactions under the Wisconsin Consumer Act:

  • First mortgages

  • The extension of credit to businesses, including transactions primarily for an agricultural purpose

  • Transactions, including those to consumers,​​​ in which the amount financed exceeds $25,000

​Penalties for Noncompliance

Failure to comply with the registration requirements under Wis. Stat. s. 426.201 or failure to pay a fee required under  Wis. Stat. s. 426.202​ may result in a forfeiture of not more than $50 for each day of noncompliance.​

Contact Us

Phone:  (608) 264-7969
Toll-Free:  (800) 452-3328 (in Wisconsin)
Fax:  (608) 264-7968
​​​E-Mail:  ConsumerAct@dfi.wisconsin.gov