Section DFI-Bkg 46.01 - DefinitionsIn subch. II of ch. 428, Stats., and ch. DFI-Bkg 46:
(1) "Disclosure" means any of the following: (a) A loan product choice disclosure under s. 428.207(2) (b), Stats.(b) A disclosure to a borrower under s. 428.208, Stats.(2) "Interest of the customer" means what is proper and prudent for the customer under the circumstances. Factors to be considered in determining the interest of the customer shall include the terms of the refinanced loan, the borrower's economic and non-economic circumstances, the purpose of the refinanced loan, the cost of the refinanced loan, and any other similar factors.(3) "Points and fees" means any of the following:(a) All items required to be disclosed as points and fees under 12 CFR 226.32.(b) The premium of any single premium credit life, credit disability or credit unemployment insurance. Note: This paragraph does not authorize the financing of single premiums in a covered loan; instead, this paragraph considers these single premiums solely for the purpose of determining whether a sufficient amount of points and fees are imposed in order to make the transaction a covered loan.
(4) "Total loan amount" has the meaning set forth in 12 CFR 226.32 and shall be calculated in accordance with the Federal Reserve Board's Official Staff Commentary to that regulation.Wis. Admin. Code Department of Financial Institutions DFI-Bkg 46.01
CR 04-089: CR Register December 2004 No. 588, eff. 2-1-05.