This release describes the Wisconsin Consumer Act interlocking loan law. For the sake of simplicity, this release only refers to dealers. Auto dealers are the sellers or lessors credit unions most often deal with under this law. However, the interlocking loan law clearly applies when there are arrangements with any other providers of goods or services such as appliance dealers, dentists, health clinics, and jewelers, to name only a few. Likewise, although this release refers only to members, the protection of the law extends to any consumer on an interlocking loan, such as cosigners, guarantors, etc.
B049 Interlocking Loans
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