422.416 – Referral transactions prohibited.
422.416 Referral transactions prohibited. (1) With respect to a consumer transaction no merchant shall give or offer to give a rebate or discount or otherwise pay or offer to pay value to the customer as an inducement for a consumer transaction in consideration of the customer’s giving to the creditor the names of prospective customers, […]
422.412 – Restriction on liability in consumer lease.
422.412 Restriction on liability in consumer lease. In a consumer lease, the obligation of a customer upon expiration of the lease may not exceed the average payment allocable to a monthly period under the lease. This limitation does not apply to charges for damages to the leased property occasioned by other than normal use or […]
422.408 – Interlocking loans.
422.408 Interlocking loans. (1) The lender in an interlocking consumer loan is subject to the claims and defenses the consumer may have against the seller or lessor in the consumer transaction for which the proceeds of the loan are used, subject to sub. (3). (2) For purposes of this section, a consumer transaction pursuant to […]
422.409 – Notice of assignment.
422.409 Notice of assignment. (1) The customer is authorized to pay the assignor until the customer receives notification of assignment of the rights to payment pursuant to a consumer credit transaction and that payment is to be made to the assignee. A notification which does not reasonably identify the rights assigned is ineffective. If requested […]
422.410 – Statements of compliance or performance.
422.410 Statements of compliance or performance. Statements in the form of acknowledgments, certificates of performance or otherwise, signed by the customer, to the effect that there has been compliance with any of the requirements of chs. 421 to 427 or performance by the other party or parties to the transaction shall create no presumption that […]
422.411 – Attorney fees.
422.411 Attorney fees. (1) Except as provided in subs. (2) and (2m), with respect to a consumer credit transaction no term of a writing may provide for the payment by the customer of attorney fees. (2) With respect to a consumer transaction in which credit is extended for the purpose of acquiring or refinancing the […]
422.403 – Maximum periods of repayment.
422.403 Maximum periods of repayment. (1) With respect to a consumer credit transaction other than one pursuant to an open-end credit plan or one pursuant to s. 138.09, no merchant shall initially schedule payments to be paid in full: (a) Over a period of more than 25 months if the total of payments is $700 […]
422.404 – Assignment of earnings.
422.404 Assignment of earnings. (1) No merchant shall take or arrange for an assignment of earnings of the customer for payment or as security for payment of an obligation arising out of a consumer transaction unless such assignment is revocable at will by the customer. (2) A revocable assignment of earnings made as payment or […]
422.405 – Authorization to confess judgment prohibited.
422.405 Authorization to confess judgment prohibited. (1) No merchant shall take or accept from the customer a warrant or power of attorney or other authorization for the creditor, or other person acting on the creditor’s behalf, to confess judgment. (2) A violation of this section is subject to s. 425.305. History: 1971 c. 239; 1991 […]
422.406 – Negotiable instruments.
422.406 Negotiable instruments. (1) In a consumer credit sale or lease transaction, no seller or lessor shall take a negotiable instrument (s. 403.104), other than a check, as evidence of the obligation of the customer. (2) In a consumer loan transaction which constitutes an interlocking loan (s. 422.408), no creditor shall take a negotiable instrument […]