Licensed Financial Services
Licensed Financial Services regulates collection agencies, community currency exchanges, sales finance companies, adjustment service companies, sellers of checks, insurance premium finance companies, and payday lenders. It also regulates motor vehicle dealers, recreational vehicle dealers and manufactured home dealers that originate retail installment sales contracts and consumer leases.
- Visit the Wisconsin Department of Health Services (DHS) website for the most up-to-date information on COVID-19.
COVID-19 Information & Resources
- DFI Issues Guidance on Adjustment Service Companies (Issued April 29, 2020).
- DFI Issues Emergency Guidance on Debt Collection Practices (Issued April 13, 2020).
- DFI Issues Emergency Guidance on Character and Fitness Requirements for Payday and Licensed Lenders (Issued March 18, 2020). See a list of licensed payday lenders and loan companies in Wisconsin here.
- The Licensed Financial Services Section within the Division of Banking is willing to work with licensees who are taking measures in response to the outbreak of COVID-19 that involve relocating employees or licensable activities. Specific requests may be submitted for approval to firstname.lastname@example.org.
- Adjustment Service Companies -- Help consumers with budgeting and debt resolution options
- Currency Exchanges -- Cash checks for a fee
- Collection Agencies -- Hired by creditors to collect outstanding debt
- Insurance Premium Finance Companies -- Finance insurance premiums
- Loan Companies -- Offer loans with an interest rate greater than 18%
- Payday Lenders -- Offer payday loans to consumers
- Sales Finance Companies -- Acquire installment sales contracts and consumer leases
- Sellers of Checks -- Transmit money and/or sell or issue checks, including money orders, traveler's checks and prepaid cards