WI AB763

Licensed lenders would be prohibited from charging an annual percentage rate (APR) greater than 36% on consumer loans, with violations rendering the loan unenforceable; pawnbroker loans and the existing 12% post-maturity rate cap are exempt

Expands the definition of who "makes" a consumer loan to include entities that hold the predominant economic interest, market/broker loans while holding purchase rights, or structure transactions to evade lending requirements—regardless of whether they claim to act as agents or service providers

Prohibits any device, subterfuge, or pretense to circumvent consumer lending requirements, including disguising loans as sale-leaseback transactions or cash rebates

Requires licensed lenders making loans above 18% APR to report annually: number of such loans made/serviced, average APR, and counts of loans refinanced, accelerated due to default, resulting in judgments, or leading to vehicle repossession

The Division of Banking must submit annual aggregated reports on this lending data to the legislature; the law takes effect on the first day of the 3rd month after publication