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Wisconsin Administrative Code
Agency - Department of Financial InstitutionsDepartment of Financial Institutions-Wisconsin Consumer Act
Chapter DFI-WCA 1 - Wisconsin consumer act
Section DFI-WCA 1.29 - Deferral charges; "rule of 78"

Wis. Admin. Code Department of Financial Institutions DFI-WCA 1.29

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Current through October 28, 2024
Section DFI-WCA 1.29 - Deferral charges; "rule of 78"

The portion of the precomputed finance charge attributable to the final installment of the original schedule of payments as used in s. 422.204(1) (a), Stats., shall mean the pre-payment rebate calculated according to the Rule of 78 if the transaction is for a term of less than 37 months in which the amount financed is less than $5000 and entered into on or after August 1, 1987 or the actuarial method in all other cases, if the contract were prepaid in full on the payment date immediately preceding final originally scheduled maturity.

Wis. Admin. Code Department of Financial Institutions DFI-WCA 1.29

CR Register, June, 1973, No. 210, eff. 7-1-73; am. Register, July, 1983, No. 331, eff. 8-1-83; am. Register, February, 1993, No. 446, eff. 3-1-93.