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Payday Lenders

Licensed under Section 138.14, Wis. Stats., payday lenders lend money to consumers and are allowed to accept the consumer's check(s) or authorization for electronic fund transfer(s) and hold the check(s) or authorization for a period of time before presenting the check(s) or initiating the electronic fund transfer(s) in payment of the loan.  The loans offered by payday lenders are limited to $1,500 or 35% of a consumer’s gross monthly income, whichever is less.

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