At the direction of Gov. Tony Evers, the Wisconsin Department of Financial Institutions (DFI) issued emergency guidance today on character and fitness requirements for all payday and licensed lenders doing business in Wisconsin, according to a story from the Cambridge News & Deerfield Independent.
DFI Secretary Kathy Blumenfeld noted that 53 percent of Wisconsinites live paycheck to paycheck and may need small loans to get through the hardships of the coronavirus. The DFI cautioned payday and licensed lenders that increasing interest rates, fees, or any costs of borrowing in response to this crisis may result in license suspension or revocation
