Loan Company

Licensed under Wis. Stat. s. 138.09, a loan company assesses finance charges in excess of 18% per year on Wisconsin consumer loans.

2023 WI Act 267 & NMLS Transition

WI Act 267 was signed by Governor Evers on April 4, 2024, and will become effective on January 1, 2025. The Act modernizes and clarifies various provisions of Wis. Stat. s. 138.09, Wisconsin's loan company statute, as well as many of the other statutes and rules administered by the Department of Financial Institutions' Division of Banking.

WI Act 267, in part, requires loan company licensees to transition their licenses to the Nationwide Multistate Licensing System & Registry (NMLS) by January 31, 2025; however, the division encourages licensees to submit their transition requests now. Information about transitioning licenses to NMLS is found here.

Licensees should review the sections of WI Act 267 that pertain to s. 138.09 and to NMLS to ensure internal policies and procedures will be compliant when the changes to the statute go into effect.

Frequent Links

Loan Company Applications and Forms*
List of Licensed Loan Companies
Loan Company Frequently Asked Questions
Loan Company Statute
Title Loan Statute
Pawnbroker Administrative Rules (Bkg. 77)

*Note: Entities that maintain their licenses on the Nationwide Multistate Licensing System & Registry (NMLS) must submit applications and amendments through NMLS.

Common Tasks

*Note: Entities that maintain their licenses on the Nationwide Multistate Licensing System & Registry (NMLS) must submit amendments through NMLS.

Helpful Information

List of Filing Due Dates

Things Every New Loan Company Licensee Should Know Before Conducting Business in Wisconsin

Loan Administration Fees under s. 138.09 - Describes the limits and conditions under which a loan company may charge a loan administration fee. Written July 5, 2022.

Non-Sufficient Fund (NSF) Fees Arising from Automated Clearing House (ACH) Transactions - DFI Interpretive Opinion Letter written October 9, 2020.

Calls to a Debtor's Friends, Family, and Other Third Parties - DFI Interpretive Opinion Letter written April 13, 2020.

Application of Partial Prepayment - DFI Interpretive Opinion Letter written May 22, 2008.

Business Guidance and DFI Interpretive Opinions

Cybersecurity Resources

Cybersecurity 101 - a resource developed by the Conference of State Bank Supervisors intended to be an easily-digestible, non-technical reference guide to help executives develop a comprehensive, responsive cybersecurity program in line with best practices.

Ransomware Self-Assessment Tool – a resource updated October 15, 2024, and developed by the Conference of State Bank Supervisors in conjunction with state bank examiners, the Bankers Electronic Crimes Taskforce, and the United States Secret Service which contains important controls that all types of companies should use to assess their efforts to mitigate risks associated with ransomware and to identify opportunities for increasing security.

Federal Trade Commission's Cybersecurity for Small Business Resources – a set of cybersecurity resources developed in partnership with the National Institute of Standards and Technology, the U.S. Small Business Administration, and the Department of Homeland Security.

Contact Us

Phone: (608) 261-7578
Email: DFI_LFS@dfi.wisconsin.gov