Section DFI-Bkg 75.01 - [Effective 1/1/2025] Definitions In this chapter and s. 138.14, Stats.:
(1g) "Applicant" means an applicant for a license under s. 138.14, Stats.(1m) "At the end of the loan term" has the same meaning as "maturity date," as defined in s. 138.14 (1) (j), Stats.(1r) "Customer identification number" means a unique number assigned to a customer in a manner specified by the division, or by the database provider acting at the direction of the division.(2) "Database transaction fee" means the fee the database provider shall charge licensees for each payday loan made by the licensee.(3) "Default" has the meaning given in s. 425.103 (2), Stats., if the loan has not reached its maturity date or the customer does not enter into a repayment plan under s. 138.14 (11g) (a), Stats.(4) " Department" means the department of financial institutions.(5) " Division" means the division of banking.(6) "Electronic fund transfer" has the meaning given in 12 C.F.R. 205.3 (b).(6m) "Licensee" means a holder of a license issued under s. 138.14 (5), Stats., except where the context requires otherwise.(7) "Makes" in s. 138.14 (4) (c), Stats., means originates or services.(7m) "Nationwide multistate licensing system and registry" or "NMLS" means the multistate system developed by the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators and owned and operated by the State Regulatory Registry, LLC or any successor or affiliate entity, for the licensing and registration of persons in financial services industries.(8) "Percentage per year of interest charged" in s. 138.14 (13) (b), Stats., means the annual percentage rate charged for the payday loan.(8g) "Reinstatement period" means the period beginning January 1 and ending on the last day of February, or such other period prescribed by the division.(8m) "Renewal period" means the period beginning November 1 and ending December 31, or such other period prescribed by the division.(9) "Subsequent payday loan" or "subsequent loan," except when used in s. 138.14 (9m), Stats., means any loan where its proceeds are used, in whole or in part, to repay a previous payday loan, and includes any loan made within 24 hours after the customer pays off a previous payday loan in full.(10) "Unique identifier" means a number or other identifier assigned by protocols established by the NMLS.Wis. Admin. Code Department of Financial Institutions DFI-Bkg 75.01
CR 10-098: CR Register May 2011 No. 665, eff. 6-1-11; CR 12-035: am. (3), CR (9) Register May 2013 No. 689, eff. 6-1-13.Amended by, CR 22-020: renum. (1) to (1m), cr. (1g), (1r), (6m), (7m), (8g), (8m), (10) Register May 2023 No. 809, eff. 9/1/2023Amended by, CR 23-039: am. (6m) Register February 2024 No. 819, eff. 4/1/2024Amended by, 2023 Wis. Act 267: cr. (1m) Register Register April 29 No. 820, eff. 1/1/2025; renum. (1m) to (1r) under s. 13.92 (4) (b) 1, Stats., Register April 29 No. 820Sub. (1r) is shown as created eff. 1-1-25 by 2023 Wis. Act 267 and as renumbered from sub. (1m) by the legislative reference bureau under s. 13.92 (4) (b) 1 A similar provision with the same numbering was created eff. 5-1-23 by CR 22-020. As created by CR 22-020, it reads: