Section 1.201. Finance charge for consumer credit transactions; per diem charge.

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Charges under s. 422.201 , Stats., on consumer transactions other than those pursuant to an open-end plan where the finance charge is computed on the declining unpaid principal balance from time to time outstanding may be computed on actual unpaid balances at 1/360th of the annual rate for the actual number of days outstanding provided the use of this method shall be disclosed conspicuously together with all other disclosures required by subch. III of ch. 422 , Stats., and provided the finance charge obtained by the application of this method does not exceed the maximum charge permissible under the act.

Cr. Register, June, 1973, No. 210 , eff. 7-1-73.

                    
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