428.210 Administration and penalties.

519 words·~2 min read·/wi/chapter-428/428-210

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)Rules. The department may promulgate rules for the administration of this subchapter. The rules shall include guidelines for determining a customer’s ability to repay a covered loan based upon the customer’s debt-to-income ratio.

(2)Investigations.

(a)At any time that the department has reason to believe that a person has engaged in or is about to engage in an act that violates this subchapter, the department may investigate. In performing an investigation under this paragraph, the department may administer oaths or affirmations, subpoena witnesses, compel their attendance, adduce evidence, and require the production of any matter, including the existence, description, nature, custody, condition, and location of any books, documents, or other tangible things, and the identity and location of persons having knowledge of relevant facts, or any other matter reasonably calculated to lead to the discovery of admissible evidence. The department may access and examine such books, documents, or other tangible things. In any civil action brought on behalf of the department based on evidence obtained in such an investigation, the department may recover the costs of performing the investigation if the department prevails in the action.

(b)If 5 or more persons file a verified complaint with the department alleging that a person has violated this subchapter, the department shall immediately commence an investigation pursuant to par.

(a).

(c)If the records of a person who is subject to an investigation pursuant to par.

(a)are located outside of this state, the person at the person’s option shall either make them available to the department at a convenient location within this state or pay the reasonable and necessary expenses for the department to examine them at the place where they are located. The department may designate representatives, including comparable officials of the state in which the records are located, to inspect them on the department’s behalf.

(d)At the request of the department of financial institutions and upon reasonable notice to all affected persons, the department of justice may apply to any court of record for an order compelling compliance if a person fails to obey a subpoena or to give testimony pursuant to par.

(a).

(3)Enforcement and penalties.

(a)The department may serve a notice of a hearing that complies with s. 227.44

(1)and

(2)on a person if the department reasonably suspects that the person has violated this subchapter. The department may receive complaints alleging violations of this subchapter. A hearing conducted pursuant to a notice under this paragraph shall be conducted in the manner specified for a contested case, as defined in s. 227.01

(3), under ss. 227.44 to 227.50 . Except as provided in sub.

(4), if the person fails to appear at the hearing or if upon the record made at the hearing the department finds that a violation has been established, the department may issue and serve on the person an order specifying any of the following:

1. That the person must cease and desist from the violation or practice and make restitution for any actual damages suffered by a customer.