Wisconsin 2025 Regular Session Status: Introduced 2 R cosponsors

SB 760 — Relating to: payday loans. (FE)

Last action — Failed to pass pursuant to Senate Joint Resolution 1

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  1. 1
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed Assembly
  5. 5
    To Executive
  6. 6
    Enacted

This bill has been introduced in the Senate. Introduced December 12, 2025. It must pass committee before a floor vote.

Next likely step: a committee referral and hearing.

Prognosis

Not enough signal yet

Where this bill stands today.

Odds of enactment

Low

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Not enough signal yet to read this bill's trajectory — we surface a likelihood only once there's real movement (stage, sponsorship, committee, or votes) to point to.

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Summary

An Act to repeal 138.14 (1) (g); to renumber 138.14 (9m); to renumber and amend 138.14 (10) (a) 1.; to amend 138.14 (9g) (a) 3., 138.14 (10) (b) 2., 138.14 (11) (b), 138.14 (12) (b), 138.14 (12) (f), 138.14 (13) (d), 138.14 (14) (m) and 422.201 (3); to repeal and recreate 138.14 (1) (k); to create 138.14 (1) (km), 138.14 (9g) (a) 7., 138.14 (9m) (a), 138.14 (9r) (g), 138.14 (10) (a) 1g., 138.14 (10) (c) and 138.14 (12) (g) and (h) of the statutes;

Bill Text

How this bill changes current law

9 changes Share ↗

Compared against current U.S. Code AI-generated reading aid — verify against the official bill.

The bill revises the definition of payday loans, imposes a new interest rate cap, and introduces additional lending restrictions and requirements.

  • 138.14 (1) (g)

    “Financial establishment” means any organization that is authorized to do business under state or federal law and that holds a demand deposit, savings deposit, or other asset account belonging to an individual.

    The definition of 'financial establishment' is removed from the statute.

  • 138.14 (1) (k)

    “Payday loan” means any of the following: A transaction between an individual with an account at a financial establishment and another person, including a person who is not physically located in this state, in which the person agrees to accept from the individual one or more checks... → “Payday loan” means a loan to which all of the following apply: 1. The loan’s maturity date is not more than 6 months after the loan’s origination date. 2. The loan is not secured by real property or other collateral.

    The definition of a payday loan is redefined to specify loan characteristics including a maximum term of 6 months and no collateral.

  • 138.14 (10) (a) 1r.

    this section imposes no limit on the interest that a licensee may not charge before the maturity date of an annual percentage rate of interest greater than 36 percent on a payday loan. → this section imposes no limit on the interest that a licensee may charge before the maturity date of an annual percentage rate of interest greater than 36 percent on a payday loan.

    The interest rate that can be charged before maturity is now explicitly limited to a maximum of 36% APR.

  • 138.14 (12) (g)

    No licensee may make or offer to make a payday loan for which the maturity date is less than 90 days after the loan’s origination date.

    A new restriction is added that prohibits payday loans with a maturity of less than 90 days.

  • 138.14 (10) (c)

    All payday loans shall be precomputed.

    A requirement is established that all payday loans must be precomputed.

  • 138.14 (9m) (a)

    Before entering into a payday loan with an applicant, the licensee shall undertake a reasonable underwriting process to verify the applicant’s ability to repay the payday loan.

    A requirement is introduced for lenders to verify an applicant's ability to repay the loan before issuing it.

  • 138.14 (12) (f)

    If a check held received by a licensee as a result of payment on a payday loan is dishonored, or an instruction to execute an electronic funds transfer authorized as the result of payment on a payday loan is denied, the licensee may bring an action to collect the amount of the check or electronic funds transfer, but may not threaten or pursue criminal action against a debtor...

    New protections are provided to debtors against criminal actions due to dishonored checks or denied debts.

  • 138.14 (11) (b)

    Upon prepayment in full by cash, renewal, refinancing, or otherwise, a refund of the unearned portion of any interest assessed by the licensee finance charge must be allowed.

    Debtors are entitled to a refund of unearned interest upon paying off their loans early.

  • 138.14 (12) (b)

    No licensee may make a payday loan to a customer that results in the customer having an outstanding aggregate liability in principal, interest, and all other fees and charges... → No licensee may make a payday loan to a customer that results in the customer having an outstanding aggregate liability in principal, interest, and all other fees and charges, to all licensees who have made payday loans to the customer of more than $1,500 or 35 percent of the customer’s gross monthly income, whichever is less.

    The maximum limits on total outstanding payday loan liabilities for customers are clarified.

Action History

  1. Failed to pass pursuant to Senate Joint Resolution 1

  2. Senate Amendment 1 offered by Senator Jacque

  3. Fiscal estimate received

  4. Read first time and referred to Committee on Financial Institutions and Sporting Heritage

  5. Introduced by Senators Jacque and Cabral-Guevara; cosponsored by Representatives Allen, Rivera-Wagner, Anderson, Goodwin, Gundrum, Knodl, Kreibich, Ortiz-Velez and Stroud

Sponsors

  • Allen · Cosponsor
  • Rivera-Wagner · Cosponsor
  • Goodwin · Cosponsor
  • Gundrum · Cosponsor
  • Knodl · Cosponsor
  • Kreibich · Cosponsor
  • Ortiz-Velez · Cosponsor
  • Stroud · Cosponsor
  • André Jacque · Primary
  • Rachael Cabral-Guevara · Cosponsor
  • J ANDERSON · Cosponsor

Sponsorship breakdown

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1 sponsors · 10 co-sponsors · 121 not signed on

Sponsors (1)

Co-sponsors (10)

Not signed on (121)

121 members have not signed on to this bill.

Show all 121 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does SB 760 do?
An Act to repeal 138.14 (1) (g); to renumber 138.14 (9m); to renumber and amend 138.14 (10) (a) 1.; to amend 138.14 (9g) (a) 3., 138.14 (10) (b) 2., 138.14 (11) (b), 138.14 (12) (b), 138.14 (12) (f), 138.14 (13) (d), 138.14 (14) (m) and 422.201 (3); to repeal and recreate 138.14 (1) (k); to create 138.14 (1) (km), 138.14 (9g) (a) 7., 138.14 (9m) (a), 138.14 (9r) (g), 138.14 (10) (a) 1g., 138.14 (10) (c) and 138.14 (12) (g) and (h) of the statutes;
Who sponsors SB 760?
SB 760 is sponsored by Allen, Rivera-Wagner, Goodwin, Gundrum, Knodl, Kreibich, Ortiz-Velez, Stroud, Jacque, André (Republican), Cabral-Guevara, Rachael (Republican), and ANDERSON, J.
What is the current status of SB 760?
This bill has been introduced in the Senate. Introduced December 12, 2025. It must pass committee before a floor vote.
Where can I track SB 760?
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