Wisconsin Statutes 422.210 – Agricultural credit transactions
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Wisconsin Statutes 422.210
- Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. Source: OCC
- in writing: includes any representation of words, letters, symbols or figures. See Wisconsin Statutes 990.01
(1) Permissible finance charges and fees. With respect to a credit transaction that it is primarily for an agricultural purpose, a creditor may not charge, collect or receive any finance charge or fee unless the charge or fee is clearly disclosed in writing to the customer and that is agreed to by the creditor and the customer.
(2) Penalty. A violation of this section is subject to s. 425.304.