Debt collectors who are licensed to practice in Wisconsin will need to modify their collection letters to comply with the recent changes to the Wisconsin Administrative Code. 2013 A.B. 277, the newly enacted bill, amends the existing special text requirement for collection notices found under Wis. Admin. Code §DFI-Bkg 74.13(1).
The following statement was previously required in collection letters: “This collection agency is licensed by the Division of Banking, P.O. Box 7876, Madison, Wisconsin 53707.” The new regulations now require the following statement:
“This collection agency is licensed by the Division of Banking in the Wisconsin Department Financial Institutions, www.wdfi.org.”
Debt collectors licensed in Wisconsin must send the above notice to consumers either in the initial written communication or in a separate communication within 5 days after the initial communication with the consumer. The notice must be in 8-point font and if it is printed on the backside of a collection letter, the front page of the notice must disclose the following statement: “Notice: See Reverse Side for Important Information.”
To help ensure compliance with state debt collection laws, debt collectors may visit our new compliance resource: Fair Debt Collection Statutes by State. You may address any questions relating to federal and state debt collection statutes to Joseph Messer at email@example.com or (312) 334-3440.