Payday Lender

​​Licensed under Wis. Stat. s. 138.14, payday lenders lend money to consumers and are allowed to accept the consumer's check(s) or authorization for electronic fund transfer(s) and hold the check(s) or authorization for a period of time before presenting the check(s) or initiating the electronic fund transfer(s) in payment of the loan.  The loans offered by payday lenders are limited to $1,500 or 35% of a consumer’s gross monthly income, whichever is less.

NMLS Transition Information

Revisions to Wisconsin’s Payday Lender Administrative Rule, Wis. Admin. Code ch. DFI-Bkg 75, became effective on September 1, 2023.  The changes require:

  • Licensees to transition to the Nationwide Multistate Licensing System & Registry ("NMLS") by October 31, 2023.
  • New owners/officers to request a credit report and criminal history report through NMLS.
  • Material information to be kept current and accurate on NMLS.  If the information changes in any material respect, the licensee must update NMLS within 10 days after the change.
  • Annual renewals to be submitted thru NMLS.  It also indicates that if a licensee fails to renew by the required due date, the licensee can reinstate its license by filing the renewal thru NMLS, paying the renewal fee, submitting all required renewal documentation, and paying a $100 non-refundable reinstatement fee.  The reinstatement period will close on February 28th of each year.

Transition related resources for licensees are linked below.

Frequent Links

*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

  • Order Regarding Database Transaction Fee.  Written July 1, 2011.
  • 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 developed by the Conference of State Bank Supervisors in conjunction with 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.

Contact Us

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