Payday Lender

​​​​​​​Licensed under Wis. Stat. s. 138.14, payday lenders originate and/or service consumer loans with terms of 90 days or less where the lender either (1) accepts from the consumer one or more checks and holds the check(s) for a period of time before negotiating or presenting the check(s) for payment, or (2) accepts the consumer's authorization to initiate one or more electronic fund transfers (EFT) from the consumer's bank account and wait a period of time before initiating the EFT(s) for payment.   

Frequent Links

  • Applications: Payday lenders are required to apply for and maintain their Wisconsin license on the Nationwide Multistate Licensing System & Registry (NMLS). 
    • Initial Applications: 
      • To apply for a license, go to Step 1 of the Getting Started webpage found in the NMLS Resource Center.
      • Refer to the New Application tab in the NMLS Checklist Compiler for a detailed list of information that must be provided with a new Company application.
    • Branch Applications: 
      • Wisconsin payday lender licensees that want to apply for a license for an additional branch office should go to Step 4 of the Getting Started webpage found in the NMLS Resource Center. 
      • Refer to the New Application tab in the NMLS Checklist Compiler for a detailed list of information that must be provided with a new Branch application.

  • License Amendment Instructions - Refer to the applicable Wisconsin NMLS Amendment Checklist for instructions on how notify the Division of Banking about changes to:
    • Direct Owners, Indirect Owners, Affiliates or Subsidiaries
    • Executive Officers or other Control Persons
    • Addresses 
    • Legal Names or Trade Names
    • Legal Status
    • Disclosure Question and Answers

Helpful Information

  • Financial Statement Requirements
    • The licensed legal entity's fiscal year-end financial statements and a completed Supplemental Financial Statement Information form, must be uploaded to NMLS within 90 days after the completion of each fiscal year.
      • Financial statements must include a balance sheet & income statement and be prepared in accordance with generally accepted accounting principles.
      • Licensees must maintain tangible net worth of at least $50,000 and positive working capital.  
      • When evaluating a licensee's tangible net worth and net working capital, the division discounts intangibles; receivables from officers, stockholders, and other related parties; employee advances; receivables over 120 days past due; and any other assets of questionable value.

  • 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 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​.

Contact Us

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