224.10(1)(1)
Administration in trust as a loan fund. The loan funds of any Indian tribe which are transferred to the custody of such tribe by the United States, including any outstanding loan accounts, shall be administered as follows:
224.10(1)(a)
(a) The funds shall be held in trust by the tribe or a legal entity thereof as an Indian loan fund, for the purpose of making loans to members of the tribe.
224.10(1)(b)
(b) Management of an Indian loan fund shall be vested in a board of trustees, which may hire necessary personnel to administer the loan fund. The board of trustees shall consist of 5 members of the tribe and shall be appointed annually by the governing body of the tribe.
224.10(1)(c)
(c) The Indian loan fund in custody of the Menominee Indian Tribe and administered by a board of trustees appointed by that tribe shall, at the termination of federal control, be administered, subject to this section, by a board of 5 trustees appointed annually by the stockholders of the corporation described in s.
710.05, 1973 stats., and shall be used for making loans to those who were enrolled tribal members as proclaimed by the secretary of the interior as of June 17, 1954, and their spouses and descendants and to any additional classes recommended by the trustees.
224.10(3)
(3) Rules of board of trustees. The board of trustees of an Indian loan fund may establish rules for the administration of the fund.
224.10 History
History: 1975 c. 422 s.
163;
1987 a. 252.
FINANCIAL INSTITUTIONS
224.25
224.25
Customer access to appraisals. If requested by an individual who is a customer, loan applicant or credit applicant, a financial institution, as defined in s.
705.01 (3), shall provide that individual with a copy of any written appraisal report which is held by the financial institution, which relates to residential real estate that the individual owns or has agreed to purchase and for which a fee is imposed.
224.25 History
History: 1991 a. 78;
1997 a. 191 s.
236; Stats. 1997 s. 224.25.
224.26
224.26
Customer access to credit reports. If requested by an individual who is a customer, loan applicant or credit applicant, a financial institution, as defined in s.
705.01 (3), shall provide that individual, at no additional charge, with a copy of any written credit report which is held by the financial institution, which relates to that individual and for which a fee is imposed.
224.26 History
History: 1993 a. 425;
1997 a. 191 s.
237; Stats. 1997 s. 224.26.
224.30
224.30
Powers and duties of the department. 224.30(1)(1)
Definition. In this section, “department" means the department of financial institutions.
224.30(3)
(3) Computer databases, networks and systems; access and use fees. The department may establish fees to be paid by members of the public for accessing or using the department's computer databases, computer networks or computer systems. Every fee established under this paragraph shall be based upon the reasonable cost of the service provided by the department, together with a reasonable share of the costs of developing and maintaining the department's computer databases, computer networks and computer systems.
224.30(4)
(4) Restrictions on recording instruments with social security numbers. 224.30(4)(a)
(a) In this subsection, “system" means the department's corporate registration information system.
224.30(4)(b)
(b) The department may not record in the system any instrument offered for recording that contains the social security number of an individual. If the department is presented with an instrument for recording in the system that contains an individual's social security number, the department may, prior to recording the instrument, remove or obscure characters from the social security number such that the social security number is not discernable on the instrument.
224.30(4)(c)
(c) If the department is presented with an instrument for recording in the system that contains an individual's social security number, and if the department records the instrument but does not discover that the instrument contains the individual's social security number until after the instrument is recorded, the department is not liable for the instrument drafter's placement of the individual's social security number on the instrument and the department may remove or obscure characters from the social security number such that the social security number is not discernable on the instrument.
224.30(4)(d)
(d) If the department records an instrument in the system that contains the complete social security number of an individual, the instrument drafter is liable to the individual whose social security number appears in the recorded instrument for any actual damages resulting from the instrument being recorded.
224.30(5)(a)
(a) In this subsection, “filing" means the submission to the department of any form, instrument, application, report, notice, or other information required or permitted to be submitted to the department for retention in the department's records.
224.30(5)(b)
(b) Subject to par.
(c), the department may require any filing to be made electronically in a manner prescribed by the department. Subject to par.
(c), if the department requires that a filing be made electronically, the department may require that any fee associated with the filing be paid using a suitable method prescribed by the department.
224.30(5)(c)
(c) The department may waive any requirement imposed under par.
(b) if all of the following apply:
224.30(5)(c)1.
1. The person affected by the requirement makes a written request to the department, in a manner prescribed by the department, that the requirement be waived and clearly states in the request why the requirement causes the person undue hardship.
224.30(5)(c)2.
2. The department determines, in its discretion, that the requirement, if imposed on the person, would cause the person undue hardship.
224.40
224.40
Disclosure of financial records for child support enforcement. 224.40(2)
(2) Financial record matching agreements. A financial institution is required to enter into an agreement with the department of children and families in accordance with rules promulgated under s.
49.853 (2).
224.40(3)
(3) Limited liability. A financial institution is not liable for any of the following:
224.40(3)(a)
(a) Disclosing a financial record of an individual to the county child support agency attempting to establish, modify or enforce a child support obligation of the individual.
224.40(3)(b)
(b) Disclosing information to the department of children and families or a county child support agency pursuant to the financial record matching program under s.
49.853.
224.40(3)(c)
(c) Encumbering or surrendering any assets held by the financial institution in response to instructions provided by the department of children and families or a county child support agency for the purpose of enforcing a child support obligation.
224.40 History
History: 1997 a. 191;
2007 a. 20.
224.42
224.42
Disclosure of financial records for Medical Assistance and food stamp program eligibility. 224.42(2)
(2) Financial record matching agreements. A financial institution is required to enter into an agreement with the department of health services under ss.
49.45 (4m) and
49.79 (1t).
224.42(3)
(3) Limited liability. A financial institution is not liable for any of the following:
224.42(3)(a)
(a) Disclosing a financial record of an individual or other information to the department of health services in accordance with an agreement, and its participation in the program, under s.
49.45 (4m) or
49.79 (1t).
224.44
224.44
Disclosure of financial records for collection of unemployment insurance debt. 224.44(2)
(2) Financial record matching agreements. A financial institution is required to enter into an agreement with the department of workforce development under s.
108.223.
224.44(3)
(3) Limited liability. A financial institution is not liable for any of the following:
224.44(3)(a)
(a) Disclosing a financial record of an individual or other information to the department of workforce development in accordance with an agreement, and its participation in the program, under s.
108.223.
224.44 History
History: 2013 a. 36.
224.45
224.45
Financial exploitation of vulnerable adults. 224.45(1)(a)
(a) “Account” means funds or assets held by a financial service provider, including a deposit account, savings account, share account, certificate of deposit, trust account, guardianship or conservatorship account, or retirement account, and also including an account associated with a loan or other extension of credit.
224.45(1)(c)
(c) “Financial institution” means a bank, savings bank, savings and loan association, trust company, or credit union chartered under the laws of this state.
224.45(1)(d)
(d) “Financial service provider” means any of the following engaged in or transacting business in this state:
Effective date note
NOTE: Subd. 3. is shown as amended eff. 1-1-25 by
2023 Wis. Act 132. Prior to 1-1-25 it reads:
Effective date text
3. A seller of checks, as defined in s. 217.02 (9).
224.45(1)(e)
(e) “Vulnerable adult” means an adult at risk, as defined in s.
55.01 (1e), or an individual who is at least 65 years of age.
224.45(2)(a)
(a) A financial service provider may offer to a vulnerable adult the opportunity to submit and periodically update a list of persons that the vulnerable adult authorizes the financial service provider to contact when the financial service provider has reasonable cause to suspect that the vulnerable adult is a victim or a target of financial exploitation.
224.45(2)(b)
(b) A financial service provider, or an officer or employee of the financial service provider, that has reasonable cause to suspect that a vulnerable adult is the victim or target of financial exploitation may convey the suspicion to any of the following if the person is not the suspected perpetrator:
224.45(2)(b)1.
1. Any person on the list described in par.
(a) if a list has been provided by the vulnerable adult.
224.45(2)(b)2.
2. Any co-owner, additional authorized signatory, or beneficiary on the account of the vulnerable adult.
224.45(2)(b)3.
3. Any person known by the financial service provider to be a family member, including a parent, spouse, adult child, or sibling.
224.45(2)(c)
(c) When providing information under this subsection, the financial service provider may limit the information and disclose only that the financial service provider has reasonable cause to suspect that the vulnerable adult may be a victim or target of financial exploitation without disclosing any other details or confidential personal information regarding the financial affairs of the vulnerable adult.
224.45(2)(d)
(d) The financial service provider may choose not to contact any person on the list provided under par.
(a) if the financial service provider suspects that the person is engaged in financial exploitation.
224.45(2)(e)
(e) The financial service provider may rely on information provided by the customer in compiling a list of contact persons.
224.45(2)(f)
(f) A financial service provider, or an employee of a financial service provider, acting in good faith is immune from all criminal, civil, and administrative liability for contacting a person or electing not to contact a person under this subsection and for actions taken in furtherance of that determination if the determination was made based on reasonable suspicion.
224.45 History
History: 2023 a. 132.
224.46
224.46
Independent data processing servicers.
