Section 75.10. Database.

 

(1)   Secure transmission.

(a) Except as otherwise provided in s. 138.14 , Stats., a licensee shall transmit all information to the database via the Internet.

(b) In order to maintain the confidentiality and security of the information transmitted to the database, a licensee shall maintain generally accepted security safeguards to maintain the confidentiality and security of information transmitted to the database. The licensee shall install, maintain and regularly update malware protection, antivirus and antispyware software, and a firewall.

(c) A licensee shall not transmit information to the database using publicly accessible computers, computers that are not under the licensee's control, unsecured wireless connections, Wi-Fi connections, or other connections that are not secure.

(2)   Customer eligibility.

(a) If the database advises the licensee that an applicant is eligible for a payday loan, the licensee shall record a transaction identification number, generated by the database, on the applicant's loan document before entering into the payday loan.

(b) If the database advises the licensee that an applicant is ineligible for a payday loan, the licensee shall do all of the following:

1. Inform the applicant of the applicant's ineligibility.

2. Provide the applicant with the reason for the ineligibility determination given by the database.

3. Instruct the applicant to contact the database provider if the applicant wants more specific information regarding the reason for ineligibility.

4. Provide the applicant with the telephone number of the database provider.

(3)   Database updates.

(a) A licensee shall input all information requested by the database into the database when any of the following occur:

1. A payday loan is consummated.

2. A payday loan is repaid with the proceeds of a subsequent payday loan.

3. A customer elects to enter into a repayment plan under s. 138.14 (11g) (a) , Stats.

4. A customer's payday loan is paid in full.

5. A customer elects to rescind his or her payday loan.

6. A customer makes a payment on his or her payday loan.

7. The licensee presents a check for payment or initiates an electronic fund transfer.

8. A customer's check is dishonored or electronic fund transfer is denied.

9. The licensee assesses a service charge for a dishonored check or denied electronic funds transfer.

10. The licensee collects a service charge for a dishonored check or denied electronic funds transfer.

11. The licensee determines a payday loan is in default.

12. The licensee obtains a judgment against the customer.

13. A customer satisfies a judgment.

14. The licensee collects any court costs or attorney's fees from a customer.

15. The licensee charges off a payday loan as uncollectible.

16. The division or the database provider determines additional information needs to be submitted to the database.

(b) Except as set forth in sub. (4) , information shall be entered into the database on the day the licensee becomes aware of the information.

(c) If a licensee becomes aware of any changes or errors in the information previously verified or transmitted by the licensee to the database, the licensee shall immediately update or correct the database.

(4)   Alternate process.

(a) If at the time a licensee receives a loan application the licensee is unable to access the database via the Internet due to technical difficulties occurring with the database, the licensee shall use the database provider's alternate process to obtain applicant eligibility information from the database.

(b) If a licensee makes a payday loan based on applicant eligibility information obtained from the database provider's alternate process, the licensee shall transmit to the database any remaining required information no later than 11:59 p.m. on the next business day following the date the database becomes accessible to the licensee via the Internet.

(c) If a licensee is required to transmit to the database information regarding a payday loan that has already been made but the licensee is unable to access the database via the Internet due to technical difficulties occurring with the database, the licensee shall transmit to the database the required information no later than 11:59 p.m. on the date that the database becomes accessible to the licensee via the Internet.

(d) Anytime a licensee is unable to access the database via the Internet due to technical difficulties occurring with the database, the licensee shall document in its records the technical problems it experienced and the date and time that it sought to access the database.

(5)   Record retention. Data shall be retained on the database until the database provider receives written approval from the department to archive, delete, or destroy specific information.

(6)   Ceasing loan originations.

(a) The plan required by s. 138.14 (14) (o) , Stats., shall be received by the division at least 10 business days before a licensee stops originating payday loans.

(b) The provisions of s. 138.14 (14) (d) 5. , Stats., do not apply if a licensee is updating the database in accordance with a plan approved by the division under s. 138.14 (14) (o) , Stats.

(7)   Implementation after January 1, 2011. In the event the database is not implemented or is not fully operational by January 1, 2011, the licensee shall have 60 days from the date the database is deemed fully operational by the division to enter all required information onto the database for all loans originated on or after January 1, 2011.

CR 10-098 : cr. Register May 2011 No. 665 , eff. 6-1-11; CR 12-035 : am. (3) (a) 3., r. (6), renum. (7), (8) to be (6), (7) Register May 2013 No. 689 , eff. 6-1-13.