PDLindustry.com blog is reporting some new Wisconsin lending laws will be taking effect in January. These changes could affect those payday loan lenders that we are working with online, but also affect those lenders that are running the brick and mortar stores.

Some of the new changes in Wisconsin will be:

* There will no longer be title loans available
* Payday loans will have no interest rate cap
* 90 day minimum term
* The maximum principal and interest is $1,500
* There will be a state database in place
* Customer files will be maintained for 3 years
* There will be no late fees
* There will be no no wage garnishment or criminal prosecution on debtors