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Sec. 421.202(6), Wis. Stats., excludes from the Wisconsin Consumer Act consumer credit transactions in which the amount financed exceeds $25,000.
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This exemption excludes from the Wisconsin Consumer Act an express written commitment to advance loan proceeds to a borrower for personal, family, household or agricultural purposes in which the amount financed exceeds $25,000.
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…to qualify, a commitment must not only bind the lender by the terms of the agreement to loan the customer in excess of $25,000, but must also limit by its express terms those circumstances in which additional advances will be refused to those situations which evidence: (See interrpretation for further details.)
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DFI: Wisconsin Consumer Act – Exclusion of Commitments to Lend in Excess of 25000 from the WCA (10/17/1983) Interpretive Opinions Issued by DFI
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