University of Wisconsin Digital Collections
Link to University of Wisconsin Digital Collections
Link to University of Wisconsin Digital Collections
The State of Wisconsin Collection

Page View

Toepel, M. G.; Theobald, H. Rupert (ed.) / The Wisconsin Blue Book, 1962

Administrative branch,   pp. [371]-[548] PDF (54.0 MB)

Page 390

  6. Assesses and collects fees from credit unions to cover cost of
     examinations and cost of office administration.
  7. Exercises control and supervision over liquidation or consoli-
     dation of credit unions.
  8. Promotes and     assists the organization  of credit unions,
     furnishing forms, material, and advice that may be needful
     or helpful to discharge this duty.
  As of December 31, 1960, there were 733 state chartered credit
unions operating in Wisconsin. These credit unions had total
assets of $206,392,419.94.
  Consumer Credit Division. Administers the laws relating to
foreign exchanges, small loan companies, discount loan companies,
sales finance companies, adjustment service companies, collection
agencies, and community currency exchanges.
  1. Enforces all laws relating to consumer credit agencies, the
     primary objective being to protect the consuming public from
     unethical practices in the various forms of consumer credit.
  2. Establishes and enforces rules and regulations as authorized
     and directed by the statutes for the control and supervision
     of operations of consumer credit agencies.
   3. Provides the necessary forms, receives and acts upon appli-
     cations for licenses, and renewals thereof.
   4. Conducts an examination of each agency as directed by the
   5. Investigates complaints from customers and requires adjust-
     ments or refunds from agencies when justified by facts.
   6. Conducts hearings when necessary on license applications or
     in connection with possible revocation of a license.
   7. Assesses and collects license fees and examination fees from
     each licensee.
   8. Requires the filing of a surety or fidelity bond when directed
     by the statutes or when authorized and deemed necessary to
     protect customers of licensees.
   9. Exercises supervision over liquidation of licensees when au-
     thorized and directed by the statutes.
  As of August 1, 1961, there were 137 collection agencies, 148
sales finance company offices, 234 small loan company offices, and
342 discount loan offices, operating in Wisconsin under license and
supervision of the State Banking Department.
Commissioners: W. WADE BOARDMTAN, president; JOHN P. MCGALLOWAY,
Secretary: GORDON SAMUELSEN, clerk of the Supreme Court.
Counsel for Board: RUDOLPH P. REGEZ.
Secretary's Address: State Capitol.

Go up to Top of Page