Chapter DFI-Bkg 75

DFI-Bkg 75.10(4) (4) Alternate process.

DFI-Bkg 75.10(4)(a) (a) If at the time a licensee receives a loan application the licensee is unable to access the database via the Internet due to technical difficulties occurring with the database, the licensee shall use the database provider’s alternate process to obtain applicant eligibility information from the database.

DFI-Bkg 75.10(4)(b) (b) If a licensee makes a payday loan based on applicant eligibility information obtained from the database provider’s alternate process, the licensee shall transmit to the database any remaining required information no later than 11:59 p.m. on the next business day following the date the database becomes accessible to the licensee via the Internet.

DFI-Bkg 75.10(4)(c) (c) If a licensee is required to transmit to the database information regarding a payday loan that has already been made but the licensee is unable to access the database via the Internet due to technical difficulties occurring with the database, the licensee shall transmit to the database the required information no later than 11:59 p.m. on the date that the database becomes accessible to the licensee via the Internet.

DFI-Bkg 75.10(4)(d) (d) Anytime a licensee is unable to access the database via the Internet due to technical difficulties occurring with the database, the licensee shall document in its records the technical problems it experienced and the date and time that it sought to access the database.

DFI-Bkg 75.10(5) (5) Record retention. Data shall be retained on the database until the database provider receives written approval from the department to archive, delete, or destroy specific information.

DFI-Bkg 75.10(6) (6) Ceasing loan originations.

DFI-Bkg 75.10(6)(a) (a) The plan required by s. 138.14 (14) (o), Stats., shall be received by the division at least 10 business days before a licensee stops originating payday loans.

DFI-Bkg 75.10(6)(b) (b) The provisions of s. 138.14 (14) (d) 5., Stats., do not apply if a licensee is updating the database in accordance with a plan approved by the division under s. 138.14 (14) (o), Stats.

DFI-Bkg 75.10 History History: CR 10-098: cr. Register May 2011 No. 665, eff. 6-1-11; CR 12-035: am. (3) (a) 3., r. (6), renum. (7), (8) to be (6), (7) Register May 2013 No. 689, eff. 6-1-13; CR 23-039: am. (1) (c), r. (7) Register March 2024 No. 819, eff. 4-1-24.

DFI-Bkg 75.11 DFI-Bkg 75.11 Nationwide Multistate Licensing System and Registry; Licensing and Renewal.

DFI-Bkg 75.11(1) (1) Participation.

DFI-Bkg 75.11(1)(a) (a) The division shall utilize the NMLS with respect to applicants and licensees. The division may establish relationships or contracts with the NMLS or other entities designated by the NMLS to collect and maintain records and process transaction fees or other fees. With respect to any form, fee, or other information required to be submitted to the division by an applicant or licensee, the division may require the applicant or licensee to submit such form, fee, or other information directly to the NMLS.

DFI-Bkg 75.11(1)(b) (b) Each applicant and licensee shall register with, and maintain a valid unique identifier issued by, the NMLS.

DFI-Bkg 75.11(1)(c) (c) The division may require an applicant or licensee to provide to the NMLS any information that the division determines to be relevant to the application or to any responsibility administered or conducted through the NMLS that is related to the licensed activity.

DFI-Bkg 75.11(1)(d) (d) The division may require an applicant or licensee, or an individual with the power to direct the management or policies of the applicant or licensee, to submit an independent credit report from a consumer reporting agency, an investigative background report prepared by an independent search firm, fingerprints, or any other personal or professional history information deemed necessary by the division. The division may require fingerprints for the purposes of identifying the individual and to determine whether the individual has a record of warrants, arrests, or convictions in any jurisdiction. Fingerprints may be submitted, directly or as provided in sub. (2), to the federal bureau of investigation and any government agency or entity authorized to receive this information for a state and national criminal history record check.

DFI-Bkg 75.11(1)(e) (e) The division may rely on the NMLS to establish any dates relating to application or reporting deadlines for applicants and licensees, to establish requirements for amending or surrendering licenses, or to establish any other requirements applicable to applicants and licensees to the extent the requirements are a condition of the state’s participation in the NMLS.

DFI-Bkg 75.11(1)(f) (f) Applicants and licensees are responsible for any service, access, or other fees charged by the NMLS for use of the system. Whenever the division requires fingerprinting, an independent credit report from a consumer reporting agency, an investigative background report prepared by an independent search firm, or any other information in connection with an application or other filing, any associated costs shall be paid by the applicant or the parties to the application.

DFI-Bkg 75.11(2) (2) Channeling information. To reduce the points of contact that the division may have to maintain, and to facilitate compliance with any requirement that an applicant provide identity information, including social security number or federal employer identification number, fingerprints, credit reports, or other personal history, the division may use the NMLS as a channeling agent for requesting and distributing information to and from any source so directed by the division, including the federal bureau of investigation, any state or federal department of justice, or any other governmental agency.

DFI-Bkg 75.11(3) (3) Confidential information.

DFI-Bkg 75.11(3)(a) (a) If any information or material is considered confidential or privileged under federal or state law before it is provided or disclosed to the NMLS, it shall continue to be confidential or privileged after it is provided or disclosed to, and while maintained by, the NMLS, except to the extent federal or state law expressly provides otherwise and except as provided in par. (c). Confidential or privileged information or material under this paragraph is not subject to any of the following:

DFI-Bkg 75.11(3)(a)1. 1. Disclosure under any federal or state law governing the disclosure to the public of information held by an officer or an agency of federal or state government.

DFI-Bkg 75.11(3)(a)2. 2. Subpoena or discovery, or admission into evidence, in any private civil action or administrative proceeding, unless the person to whom the information or material pertains waives any right or protection of confidentiality or privilege in the information or material.

DFI-Bkg 75.11(3)(b) (b) Confidential or privileged information or material under par. (a) may be shared with any state or federal regulatory agency having supervisory authority over activities governed by s. 138.14, Stats., without losing any right or protection of confidentiality or privilege under federal or state law.

DFI-Bkg 75.11(3)(c) (c) This subsection does not prohibit the NMLS from providing public access to information or material relating to the employment history of, and publicly adjudicated disciplinary and enforcement actions against, licensees.

DFI-Bkg 75.11(4) (4) Cooperative arrangements. The division may enter into cooperative, coordinating, or information-sharing arrangements or agreements with other governmental agencies or with associations representing other governmental agencies, including the Conference of State Bank Supervisors, subject to the requirements of s. 220.06, Stats.

DFI-Bkg 75.11 History History: CR 22-020: cr. Register May 2023 No. 809, eff. 9-1-23.

DFI-Bkg 75.12 DFI-Bkg 75.12 Changes to information. A licensee shall keep current and accurate all material information on file with the division and the NMLS. If the information changes in any material respect, the licensee shall notify the division and the NMLS of the change within 10 days after the change.

DFI-Bkg 75.12 History History: CR 22-020: cr. Register May 2023 No. 809, eff. 9-1-23.

DFI-Bkg 75.13 DFI-Bkg 75.13 License renewal and reinstatement.

DFI-Bkg 75.13(1) (1) During the renewal period, a licensee may seek to renew a license by submitting all fees owed to the division or the NMLS, along with any additional documentation required by the division or applicable law, through the NMLS or in such other manner as directed by the division.

DFI-Bkg 75.13(2) (2) During the reinstatement period, a licensee may reinstate a license by submitting all the items in sub. (1), plus an additional non-refundable fee of $100, through the NMLS or in such other manner as directed by the division.

DFI-Bkg 75.13 History History: CR 22-020: cr. Register May 2023 No. 809, eff. 9-1-23.