Changes to Wisconsin Consumer Notice Requirement
Licensed debt collectors in Wisconsin should be aware of a recent statutory change in the required consumer notice that is provided to consumers in either the initial written communication or within five (5) days after the initial communication when attempting to collect on a debt.
The change to the requirement affects the name of the licensing agency (the Division of Banking in the Wisconsin Department of Financial Institutions); the removal of a physical address, and the inclusion of the website address (www.wdfi.org).
The new notice reads: “This collection agency is licensed by the Division of Banking in the Wisconsin Department of Financial Institutions, www.wdfi.org.”
The old notice read: “This collection agency is licensed by the Division of Banking, P.O. Box 7876, Madison, Wisconsin 53707.”
The new law took effect upon signing on March 12, 2014.
For additional information on this revised requirement, please reference section 35 of Assembly Bill 277.
Section 218.04 of the Wisconsin Statutes Annotated defines collection agency to mean “any person engaging in
the business of collecting or receiving for payment for others of any account, bill, or other indebtedness.”
April 16, 2014