Wisconsin 2023-2024 Regular Session

Wisconsin Assembly Bill AB715 Compare Versions

Only one version of the bill is available at this time.

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3	3	2023 - 2024 LEGISLATURE
4	4	2023 ASSEMBLY BILL 715
5	5	November 27, 2023 - Introduced by Representatives KATSMA, MURPHY, O'CONNOR,
6	6	ALLEN, BEHNKE, DITTRICH, GOEBEN, GUNDRUM, NOVAK, PENTERMAN and
7	7	RETTINGER, cosponsored by Senators S TAFSHOLT, CABRAL-GUEVARA,
8	8	FELZKOWSKI, MARKLEIN and TAYLOR. Referred to Committee on Financial
9	9	Institutions.
10	10	*AUTHORS SUBJECT TO CHANGE*
11	11	AN ACT to repeal 138.052 (7e) and (7m), 138.056 (6) and 215.21 (2); to renumber
12	12	and amend 186.11 (2); to amend 34.08 (2), 38.20 (2) (e), 67.12 (12) (a), 138.052
13	13	(12) (a), 186.07 (7), 186.113 (15) (a), 186.118 (3) (a) (intro.), 186.235 (14) (c),
14	14	214.04 (21) (b), 215.13 (39), 215.13 (46) (a) 1., 215.21 (15), 221.0303 (2), 941.38
15	15	(1) (b) 21., 946.82 (4) and 969.08 (10) (b); and to create 186.11 (2) (b) and (c),
16	16	186.113 (26), 227.01 (13) (yu) and 943.825 of the statutes; relating to:
17	17	authorized activities and operations of credit unions; the lending area of
18	18	savings and loan associations; automated teller machines; residential
19	19	mortgage loans and variable rate loans; payments for public deposit losses in
20	20	failed financial institutions; promissory notes of certain public bodies;
21	21	repealing rules promulgated by the Department of Financial Institutions;
22	22	providing an exemption from rule-making procedures; and providing a penalty.
23	23	Analysis by the Legislative Reference Bureau
24	24	Under current law, the Office of Credit Unions (OCU) in the Department of
25	25	Financial Institutions (DFI) regulates state-chartered credit unions, and DFI's
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39	39	ASSEMBLY BILL 715
40	40	Division of Banking (division) regulates state-chartered banks, savings banks, and
41	41	savings and loan (S&L) associations. Current law specifies various authorized
42	42	activities and powers of these financial institutions.
43	43	This bill does the following with respect to the authorized operations of
44	44	financial institutions:
45	45	1. Expands the ability of a credit union to purchase, lease, and sell real
46	46	property, subject to limitations.
47	47	2. Specifies that credit unions may issue or offer supplemental forms of capital
48	48	approved by OCU.
49	49	3. Repeals certain DFI rules related to the placement or operation of automated
50	50	teller machines (ATMs) by financial institutions.
51	51	4. Creates the crime of interfering with an ATM.
52	52	5. Eliminates a geographical lending restriction for an S&L association.
53	53	6. Eliminates certain lender disclosure requirements applicable to residential
54	54	mortgage loans and variable rate loans.
55	55	7. Extends the maximum maturity date, from 10 to 20 years, of a promissory
56	56	note issued by a municipality, county, or school district.
57	57	8. Extends the period in which a credit union's board of directors must appoint
58	58	a director to fill a board vacancy.
59	59	9. Increases the amount of compensation available from DFI for losses
60	60	resulting from the deposit of public moneys in a failed financial institution.
61	61	10. Extends the period during which OCU must determine whether an activity
62	62	or power that becomes authorized for a federally chartered credit union should also
63	63	be authorized for a Wisconsin-chartered credit union.
64	64	11. Extends the deadline for a credit union to pay OCU for the cost of an OCU
65	65	examination.
66	66	Credit union property
67	67	Under current law, a credit union may purchase, hold, and dispose of property
68	68	as necessary for or incidental to its operations.
69	69	The bill specifies that a credit union may purchase, lease, hold, and convey
70	70	certain real estate, including real estate conveyed to the credit union in satisfaction
71	71	of a debt or foreclosed real estate, subject to guidance by OCU and a five-year limit
72	72	on holding the real estate.
73	73	Supplemental capital
74	74	The bill specifies that credit unions may issue or offer supplemental forms of
75	75	capital in the form and with the conditions, including those related to the safety and
76	76	soundness of the proposed use of the capital and the overall condition of the credit
77	77	union, approved by OCU.
78	78	Off-site ATMs
79	79	Under current law, a bank, savings bank, S&L association, or credit union
80	80	(collectively, financial institution) may acquire, place, and operate, or participate in
81	81	the acquisition, placement, and operation of, at locations away from the financial
82	82	institution, what is variously referred to as customer bank communications
83	83	terminals, remote terminals, or remote service units, in accordance with rules
84	84	established by OCU and DFI's Division of Banking (division). These devices are - 3 -2023 - 2024 Legislature
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87	87	ASSEMBLY BILL 715
88	88	terminals or other facilities that are not located at a financial institution and through
89	89	which customers and financial institutions may engage in electronic transactions
90	90	that are incidental to the conduct of the business of financial institutions
91	91	(collectively, off-site ATMs).
92	92	Under current rules of the division, a financial institution other than a credit
93	93	union must provide advance written notice to the division before acquiring, placing,
94	94	or operating an off-site ATM. The bill repeals these rules.
95	95	Current statutes provide that OCU or the division may, by order, authorize the
96	96	installation and operation of an off-site ATM in a mobile facility, after notice and
97	97	hearing upon the proposed service stops of the mobile facility. The bill repeals these
98	98	provisions.
99	99	Interference with automated teller machines
100	100	The bill also creates a Class H felony for intentionally causing impairment or
101	101	interruption of use of a financial institution's ATM or customer bank
102	102	communications terminal. A Class H felony is punishable by a fine not exceeding
103	103	$10,000 or imprisonment not exceeding six years, or both.
104	104	Savings and loan association lending areas
105	105	Current law specifies the authority of an S&L association to make mortgage
106	106	loans but also limits the lending area of an S&L association to a radius of 100 miles
107	107	of the S&L association's home office. In general, an S&L association may establish
108	108	branch offices within the lending area of its home office.
109	109	The bill eliminates the lending-area restriction on an S&L association and,
110	110	consequently, the limitation that a branch office must be located within the lending
111	111	area.
112	112	Residential mortgage loans and variable rate loans
113	113	Under current law, a residential mortgage loan generally is a loan secured by
114	114	a first lien real estate mortgage on a one-family to four-family dwelling that the
115	115	borrower uses as his or her principal residence. Current law imposes various
116	116	requirements related to residential mortgage loans, including the following:
117	117	1. Before a lender accepts an application or fee in connection with a residential
118	118	mortgage loan, the lender must deliver to the potential loan applicant a written
119	119	disclosure that contains certain information, including whether an application fee
120	120	is refundable and whether the interest rate and other terms of the agreement may
121	121	change before the closing date.
122	122	2. The lender must provide a written statement to an applicant of the reasons
123	123	for adverse action on an application. Delivery of a notice of adverse action in
124	124	compliance with federal law satisfies this requirement.
125	125	3. The lender must provide written notice to the borrower if the loan servicing
126	126	for the residential mortgage loan is sold. The notice must include the name, address,
127	127	and telephone number of the new loan servicer.
128	128	The bill repeals the requirements identified as 1. to 3. immediately above.
129	129	Under current law, a variable rate loan generally is a residential mortgage loan
130	130	the terms of which permit the interest rate to be increased or decreased. Current law
131	131	imposes various requirements related to variable rate loans, including a disclosure
132	132	requirement. Before making a variable rate loan, the lender must disclose specified - 4 -2023 - 2024 Legislature LRB-2800/1
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134	134	ASSEMBLY BILL 715
135	135	information to at least one of the borrowers, including that the loan contract contains
136	136	a variable interest rate provision; identification of the index used and its current
137	137	base; and rights of the borrower with respect to a change in the interest rate.
138	138	The bill repeals these disclosure requirements.
139	139	Promissory notes of certain public bodies
140	140	Under current law, a public body that has the authority to borrow money and
141	141	issue obligations to repay the money out of public funds or revenues and that has the
142	142	authority to levy a tax may issue promissory notes for any public purpose. Public
143	143	bodies covered by this provision include cities, villages, towns, counties, and school
144	144	districts. Each promissory note, with several exceptions, must be repaid within 10
145	145	years after the original date of the note. Under the bill, each promissory note must
146	146	be repaid within 20 years after the original date of the note.
147	147	Vacancy on board of directors
148	148	Current law allows the board of directors of a credit union to remove a director.
149	149	Within 60 days after the date of removal of a director, the board of directors must
150	150	appoint a director to fill the vacancy. The bill requires a credit union's board of
151	151	directors to fill any vacancy, including a vacancy resulting from removal of a director,
152	152	within 90 days.
153	153	Public deposit losses
154	154	Under current law, the Investment Board (SWIB) and the governing bodies of
155	155	counties, municipalities, and certain other local governmental units (collectively,
156	156	public depositors) must designate one or more financial institutions in this state for
157	157	deposit of all public moneys received by the public depositor. DFI administers a
158	158	claims process that repays public depositors for losses that exceed applicable deposit
159	159	insurance resulting from a failed or failing financial institution's failure to repay the
160	160	deposit of public moneys. The maximum payment that DFI can make to a public
161	161	depositor for losses from a single financial institution is $400,000. These loss
162	162	payment provisions also apply to local government deposits in the local government
163	163	pooled-investment fund managed by SWIB.
164	164	The bill increases, from $400,000 to $1,000,000, the maximum payment that
165	165	DFI can make to a public depositor for losses from a single financial institution that
166	166	exceed deposit insurance.
167	167	Parity with federally chartered credit unions
168	168	Current law includes certain provisions relating to parity between federally
169	169	chartered and state-chartered credit unions. Under one of these provisions, OCU
170	170	must establish, by rule, a list of activities and powers incidental to the business of
171	171	a credit union that are authorized for federally chartered credit unions as of April 18,
172	172	2014. A credit union chartered under Wisconsin law (Wisconsin-chartered credit
173	173	union) may engage in any activity or exercise any power listed by OCU in addition
174	174	to exercising any other power authorized for the credit union. After April 18, 2014,
175	175	if any additional activity or power incidental to the business of a credit union
176	176	becomes authorized for federally chartered credit unions, OCU must make a
177	177	determination, within 30 days after the activity or power becomes authorized, as to
178	178	whether the activity or power should also be authorized for Wisconsin-chartered - 5 -2023 - 2024 Legislature
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181	181	ASSEMBLY BILL 715
182	182	credit unions. If OCU determines that the activity or power authorized for federally
183	183	chartered credit unions should also be authorized for Wisconsin-chartered credit
184	184	unions, OCU must, by rule, add the activity or power to the list.
185	185	The bill extends, from 30 days to 60 days, the period during which OCU must
186	186	determine whether an additional activity or power authorized for federally chartered
187	187	credit unions should also be authorized for Wisconsin-chartered credit unions.
188	188	Charges for credit union examinations
189	189	Current law generally requires OCU to conduct, at least once every 18 months,
190	190	examinations of credit unions in which OCU examines the credit union's records and
191	191	accounts. OCU must charge the credit union for the cost of the examination, and the
192	192	credit union must pay the charge on the day on which the examination is completed.
193	193	The bill requires the credit union to pay the charge within 30 days of the
194	194	completion of OCU's examination.
195	195	Because this bill creates a new crime or revises a penalty for an existing crime,
196	196	the Joint Review Committee on Criminal Penalties may be requested to prepare a
197	197	report.
198	198	For further information see the state and local fiscal estimate, which will be
199	199	printed as an appendix to this bill.
200	200	The people of the state of Wisconsin, represented in senate and assembly, do
201	201	enact as follows:
202	202	SECTION 1. 34.08 (2) of the statutes is amended to read:
203	203	34.08 (2) Payments under sub. (1) shall be made in the order in which
204	204	satisfactory proofs of loss are received by the division of banking. The payment made
205	205	to any public depositor for all losses of the public depositor in any individual public
206	206	depository may not exceed $400,000 $1,000,000 above the amount of deposit
207	207	insurance provided by an agency of the United States at the public depository that
208	208	experienced the loss. Upon a satisfactory proof of loss, the division of banking shall
209	209	direct the department of administration to draw its warrant payable from the
210	210	appropriation under s. 20.144 (1) (a) and the secretary of administration shall pay
211	211	the warrant under s. 16.401 (4) in favor of the public depositor that has submitted
212	212	the proof of loss.
213	213	SECTION 2. 38.20 (2) (e) of the statutes is amended to read:
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227	227	SECTION 2 ASSEMBLY BILL 715
228	228	38.20 (2) (e) The district purchasing property under this subsection may, with
229	229	approval of the city council or village board involved, pay the purchase price by
230	230	issuing and delivering directly to the city or village the general obligation promissory
231	231	notes or the notes of the district under s. 67.12 (12), except that no referendum may
232	232	be held and the 10-year 20-year limitation on such notes shall be inapplicable to
233	233	such notes issued under this paragraph. Such notes shall mature and be payable at
234	234	such times, in such amounts and at such rate of interest as will amortize and pay
235	235	when due the principal and interest on the outstanding obligations of the city or
236	236	village for technical college purposes. All such notes, upon execution and delivery
237	237	to the city or village, shall in all respects be held and considered as an authorized
238	238	investment under s. 66.0603 (1m) or 67.11 (2) and (3) of the debt service fund created
239	239	for payment of the city or village obligations issued for technical college purposes and
240	240	shall be offset against city or village indebtedness in computing legal debt limit to
241	241	the same extent as other authorized investments of the debt service fund and such
242	242	notes may be sold and hypothecated. If the offset against city or village indebtedness
243	243	under this paragraph is determined to be invalid in any respect, such city or village
244	244	immediately may require the district issuing the promissory notes to such city or
245	245	village to comply with pars. (c) and (d) to the extent necessary to cure such invalidity.
246	246	SECTION 3. 67.12 (12) (a) of the statutes, as affected by 2023 Wisconsin Act 6,
247	247	is amended to read:
248	248	67.12 (12) (a) Any municipality may issue promissory notes as evidence of
249	249	indebtedness for any public purpose, as defined in s. 67.04 (1) (b), including but not
250	250	limited to paying any general and current municipal expense, and refunding any
251	251	municipal obligations, including interest on them. Each note, plus interest if any,
252	252	shall be repaid within 10 years after the original date of the note, except that notes
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280	280	SECTION 3
281	281	ASSEMBLY BILL 715
282	282	issued under this section for purposes of ss. 119.498, 281.58, 281.59, 281.61, and
283	283	292.72 and s. 281.60, 2021 stats., issued to raise funds to pay a portion of the capital
284	284	costs of a metropolitan sewerage district, or issued by a 1st class city or a county
285	285	having a population of 750,000 or more, to pay unfunded prior service liability with
286	286	respect to an employee retirement system, shall be repaid within 20 years after the
287	287	original date of the note.
288	288	SECTION 4. 138.052 (7e) and (7m) of the statutes are repealed.
289	289	SECTION 5. 138.052 (12) (a) of the statutes is amended to read:
290	290	138.052 (12) (a) Any lender violating sub. (2) (b), (5), (5m) (b) 1., (6), (7), (7e),
291	291	(7m) or (7s), or an escrow agent, as defined in sub. (5m) (a), violating sub. (5m) (b)
292	292	2., is liable to the borrower for $500 plus actual damages, costs and reasonable
293	293	attorney fees.
294	294	SECTION 6. 138.056 (6) of the statutes is repealed.
295	295	SECTION 7. 186.07 (7) of the statutes is amended to read:
296	296	186.07 (7) VACANCIES. Within 60 90 days after the date of a removal vacancy
297	297	on the board of directors, the board of directors shall appoint a director to fill the
298	298	vacancy. The appointee shall serve until a successor is elected at the next annual
299	299	membership meeting.
300	300	SECTION 8. 186.11 (2) of the statutes is renumbered 186.11 (2) (a) and amended
301	301	to read:
302	302	186.11 (2) (a) A Subject to pars. (b) and (c), a credit union may purchase, hold,
303	303	and dispose of property as necessary for or incidental to its operations.
304	304	SECTION 9. 186.11 (2) (b) and (c) of the statutes are created to read:
305	305	186.11 (2) (b) Subject to guidance issued by the office of credit unions, a credit
306	306	union may purchase, lease, hold, and convey the following types of real estate:
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333	333	SECTION 9 ASSEMBLY BILL 715
334	334	1. Real estate conveyed to the credit union in satisfaction of debts previously
335	335	contracted in the course of the credit union's business.
336	336	2. Real estate purchased at sale on judgments, decrees, or mortgage
337	337	foreclosures under securities held by the credit union, but a credit union may not bid
338	338	at a sale a larger amount than is necessary to satisfy its debts and costs.
339	339	3. Subject to the approval of the office of credit unions, real estate acquired or
340	340	held by the credit union for any other purpose.
341	341	(c) Real estate acquired under par. (b) may not be held for more than 5 years,
342	342	unless an extension is granted by the office of credit unions.
343	343	SECTION 10. 186.113 (15) (a) of the statutes is amended to read:
344	344	186.113 (15) (a) Directly or indirectly, acquire, place, and operate, or
345	345	participate in the acquisition, placement, and operation of, at locations other than
346	346	its offices, remote terminals, in accordance with rules established by the office of
347	347	credit unions. The rules shall provide that any remote terminal shall be available
348	348	for use, on a nondiscriminatory basis, by any state or federal credit union which has
349	349	its principal place of business in this state, by any other credit union obtaining the
350	350	consent of a state or federal credit union which has its principal place of business in
351	351	this state and is using the terminal and by all members designated by a credit union
352	352	using the terminal. This subsection does not authorize a credit union which has its
353	353	principal place of business outside the state to conduct business as a credit union in
354	354	this state. The remote terminals also shall be available for use, on a
355	355	nondiscriminatory basis, by any state or national bank, state or federal savings bank
356	356	or state or federal savings and loan association, whose home office is located in this
357	357	state, if the bank, savings bank or savings and loan association requests to share its
358	358	use, subject to the joint rules established under s. 221.0303 (2). The office of credit
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386	386	SECTION 10
387	387	ASSEMBLY BILL 715
388	388	unions by order may authorize the installation and operation of a remote terminal
389	389	in a mobile facility, after notice and hearing upon the proposed service stops of the
390	390	mobile facility.
391	391	SECTION 11. 186.113 (26) of the statutes is created to read:
392	392	186.113 (26) SUPPLEMENTAL CAPITAL. In addition to the rights of credit unions
393	393	under other law, issue or otherwise offer supplemental forms of capital in the form
394	394	and with the conditions, including those related to the safety and soundness of the
395	395	proposed use of the capital and the overall condition of the credit union, approved by
396	396	the office of credit unions. This approval shall be in writing and obtained prior to the
397	397	issuance of the supplemental capital.
398	398	SECTION 12. 186.118 (3) (a) (intro.) of the statutes is amended to read:
399	399	186.118 (3) (a) (intro.) After April 18, 2014, if any activity or power incidental
400	400	to the business of a credit union that is not listed under sub. (2) (a) becomes
401	401	authorized for federally chartered credit unions, within 30 60 days after the activity
402	402	or power becomes authorized the office of credit unions shall make a determination
403	403	as to whether the activity or power should also be authorized for credit unions
404	404	organized under s. 186.02. In making this determination, the office of credit unions
405	405	shall consider the degree to which the following apply with respect to the activity or
406	406	power:
407	407	SECTION 13. 186.235 (14) (c) of the statutes is amended to read:
408	408	186.235 (14) (c) In addition to the annual assessment, each credit union shall
409	409	be charged for the cost of every examination made. The examination charge shall
410	410	include the prorated amount of salaries and expenses of all examiners and other
411	411	employees actively engaged in the examination, the salaries and expenses of any
412	412	other person whose services are required in connection with the examination and
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439	439	SECTION 13 ASSEMBLY BILL 715
440	440	any examination report and any other expenses which may be directly attributable
441	441	to the examination. The examination charge shall be paid on within 30 days of the
442	442	day on which the examination is completed.
443	443	SECTION 14. 214.04 (21) (b) of the statutes is amended to read:
444	444	214.04 (21) (b) The rules of the division shall provide that any remote service
445	445	unit shall be available for use, on a nondiscriminatory basis, by any state or federal
446	446	savings bank which has its principal place of business in this state, by any other state
447	447	or federal savings bank obtaining the consent of a state or federal savings bank that
448	448	has its principal place of business in this state and is using the terminal and by all
449	449	customers designated by a savings bank using the unit. This paragraph does not
450	450	authorize a savings bank which has its principal place of business outside this state
451	451	to conduct business as a savings bank in this state. A remote service unit shall be
452	452	available for use, on a nondiscriminatory basis, by any credit union, state or national
453	453	bank or state or federal savings and loan association, whose home office is located
454	454	in this state, if the credit union, bank or savings and loan association requests to
455	455	share its use, subject to joint rules established by the division and the office of credit
456	456	unions. The division by order may authorize the installation and operation of a
457	457	remote service unit in a mobile facility, after notice and hearing upon the proposed
458	458	service stops of the mobile facility.
459	459	SECTION 15. 215.13 (39) of the statutes is amended to read:
460	460	215.13 (39) BRANCHES. Subject to the approval of the division, any savings and
461	461	loan association may establish and maintain one or more branch offices within the
462	462	normal lending area of the home office, as defined in s. 215.21 (2), in this state or in
463	463	any one of the regional states, as defined in s. 215.36 (1) (f). In the division's approval,
464	464	the division may limit the powers of the branch. Savings and loan associations may
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489	489	25 - 11 -2023 - 2024 Legislature
490	490	LRB-2800/1
491	491	ARG:amn&wlj
492	492	SECTION 15
493	493	ASSEMBLY BILL 715
494	494	promote thrift in their local schools by accepting payments in the school upon savings
495	495	accounts of the teachers and pupils.
496	496	SECTION 16. 215.13 (46) (a) 1. of the statutes is amended to read:
497	497	215.13 (46) (a) 1. Directly or indirectly, acquire, place, and operate, or
498	498	participate in the acquisition, placement, and operation of, at locations other than
499	499	its home or branch offices, remote service units, in accordance with rules established
500	500	by the division. Remote service units established in accordance with such rules are
501	501	not subject to sub. (36), (39), (40) or (47) or s. 215.03 (8). The rules of the division shall
502	502	provide that any such remote service unit shall be available for use, on a
503	503	nondiscriminatory basis, by any state or federal savings and loan association which
504	504	has its principal place of business in this state, by any other savings and loan
505	505	association obtaining the consent of a state or federal savings and loan association
506	506	which has its principal place of business in this state and is using the terminal and
507	507	by all customers designated by a savings and loan association using the unit. This
508	508	paragraph does not authorize a savings and loan association which has its principal
509	509	place of business outside this state to conduct business as a savings and loan
510	510	association in this state. The remote service units also shall be available for use, on
511	511	a nondiscriminatory basis, by any credit union, state or national bank or state or
512	512	federal savings bank, whose home office is located in this state, if the credit union,
513	513	bank or savings bank requests to share its use, subject to the joint rules established
514	514	under s. 221.0303 (2). The division by order may authorize the installation and
515	515	operation of a remote service unit in a mobile facility, after notice and hearing upon
516	516	the proposed service stops of the mobile facility.
517	517	SECTION 17. 215.21 (2) of the statutes is repealed.
518	518	SECTION 18. 215.21 (15) of the statutes is amended to read:
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543	543	25 - 12 -2023 - 2024 Legislature LRB-2800/1
544	544	ARG:amn&wlj
545	545	SECTION 18 ASSEMBLY BILL 715
546	546	215.21 (15) PARTICIPATION LOANS. Any association may participate with other
547	547	lenders in mortgage loans of any type that such association may otherwise make if
548	548	the real estate securing such loan is located within the United States, subject to such
549	549	rules as the division issues, including the interest in participation loans to be
550	550	retained by the originator. The normal lending area, prescribed in sub. (2), shall not
551	551	apply to any association purchasing a participating interest in such loan, provided
552	552	the real estate securing such loan is located within the United States.
553	553	SECTION 19. 221.0303 (2) of the statutes is amended to read:
554	554	221.0303 (2) OPERATION AND ACQUISITION OF CUSTOMER BANK COMMUNICATIONS
555	555	TERMINALS. A bank may, directly or indirectly, acquire, place, and operate, or
556	556	participate in the acquisition, placement, and operation of, at locations other than
557	557	its main or branch offices, customer bank communications terminals, in accordance
558	558	with rules established by the division. The rules of the division shall provide that
559	559	any such customer bank communications terminal shall be available for use, on a
560	560	nondiscriminatory basis, by any state or national bank and by all customers
561	561	designated by a bank using the terminal. This subsection does not authorize a bank
562	562	which has its principal place of business outside this state to conduct banking
563	563	business in this state. The customer bank communications terminals also shall be
564	564	available for use, on a nondiscriminatory basis, by any credit union, savings and loan
565	565	association, or savings bank, if the credit union, savings and loan association, or
566	566	savings bank requests to share its use, subject to rules jointly established by the
567	567	division of banking and the office of credit unions. The division by order may
568	568	authorize the installation and operation of a customer bank communications
569	569	terminal in a mobile facility, after notice and hearing upon the proposed service stops
570	570	of the mobile facility.
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595	595	25 - 13 -2023 - 2024 Legislature
596	596	LRB-2800/1
597	597	ARG:amn&wlj
598	598	SECTION 20
599	599	ASSEMBLY BILL 715
600	600	SECTION 20. 227.01 (13) (yu) of the statutes is created to read:
601	601	227.01 (13) (yu) Relates to guidance issued by the office of credit unions under
602	602	s. 186.11 (2) (b).
603	603	SECTION 21. 941.38 (1) (b) 21. of the statutes is amended to read:
604	604	941.38 (1) (b) 21. A crime under s. 943.81, 943.82, 943.825, 943.83, 943.85,
605	605	943.86, 943.87, 943.88, 943.89, or 943.90 or, if the victim is a financial institution, as
606	606	defined in s. 943.80 (2), a crime under s. 943.84 (1) or (2).
607	607	SECTION 22. 943.825 of the statutes is created to read:
608	608	943.825 Interference with automated teller machine. Whoever
609	609	intentionally causes impairment or interruption of use, in whole or in part, of a
610	610	financial institution's automated teller machine or customer bank communications
611	611	terminal is guilty of a Class H felony.
612	612	SECTION 23. 946.82 (4) of the statutes, as affected by 2023 Wisconsin Act 10,
613	613	is amended to read:
614	614	946.82 (4) “Racketeering activity" means any activity specified in 18 USC 1961
615	615	(1) in effect as of April 27, 1982, or the attempt, conspiracy to commit, or commission
616	616	of any of the felonies specified in: chs. 945 and 961, subch. V of ch. 551, and ss. 49.49,
617	617	134.05, 139.44 (1), 180.0129, 181.0129, 185.825, 201.09 (2), 215.12, 221.0625,
618	618	221.0636, 221.0637, 221.1004, 553.41 (3) and (4), 553.52 (2), 940.01, 940.19 (4) to (6),
619	619	940.20, 940.201, 940.203, 940.21, 940.30, 940.302 (2), 940.305, 940.31, 941.20 (2) and
620	620	(3), 941.26, 941.28, 941.298, 941.31, 941.32, 942.09, 943.01 (2), (2d), or (2g), 943.011,
621	621	943.012, 943.013, 943.02, 943.03, 943.04, 943.05, 943.06, 943.10, 943.20 (3) (bf) to (e),
622	622	943.201, 943.203, 943.23 (2) and (3), 943.231 (1), 943.24 (2), 943.27, 943.28, 943.30,
623	623	943.32, 943.34 (1) (bf), (bm), and (c), 943.38, 943.39, 943.40, 943.41 (8) (b) and (c),
624	624	943.50 (4) (bf), (bm), and (c) and (4m), 943.60, 943.70, 943.76, 943.81, 943.82,
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649	649	25 - 14 -2023 - 2024 Legislature LRB-2800/1
650	650	ARG:amn&wlj
651	651	SECTION 23 ASSEMBLY BILL 715
652	652	943.825, 943.83, 943.84, 943.85, 943.86, 943.87, 943.88, 943.89, 943.90, 944.21 (5) (c)
653	653	and (e), 944.32, 944.34, 945.03 (1m), 945.04 (1m), 945.05 (1), 945.08, 946.10, 946.11,
654	654	946.12, 946.13, 946.31, 946.32 (1), 946.48, 946.49, 946.61, 946.64, 946.65, 946.72,
655	655	946.76, 946.79, 947.015, 948.05, 948.051, 948.08, 948.12, and 948.30.
656	656	SECTION 24. 969.08 (10) (b) of the statutes, as affected by 2023 Wisconsin Act
657	657	10, is amended to read:
658	658	969.08 (10) (b) “Serious crime" means any crime specified in s. 943.23 (1m),
659	659	1999 stats., s. 943.23 (1r), 1999 stats., or s. 943.23 (1g), 2021 stats., or s. 346.62 (4),
660	660	940.01, 940.02, 940.03, 940.05, 940.06, 940.08, 940.09, 940.10, 940.19 (5), 940.195
661	661	(5), 940.198 (2) (a) or (c), 940.20, 940.201, 940.203, 940.204, 940.21, 940.225 (1) to (3),
662	662	940.23, 940.24, 940.25, 940.29, 940.295 (3) (b) 1g., 1m., 1r., 2. or 3., 940.302 (2),
663	663	940.31, 941.20 (2) or (3), 941.26, 941.30, 941.327, 943.01 (2) (c), 943.011, 943.013,
664	664	943.02, 943.03, 943.04, 943.06, 943.10, 943.231 (1), 943.30, 943.32, 943.81, 943.82,
665	665	943.825, 943.83, 943.85, 943.86, 943.87, 943.88, 943.89, 943.90, 946.01, 946.02,
666	666	946.43, 947.015, 948.02 (1) or (2), 948.025, 948.03, 948.04, 948.05, 948.051, 948.06,
667	667	948.07, 948.085, or 948.30 or, if the victim is a financial institution, as defined in s.
668	668	943.80 (2), a crime under s. 943.84 (1) or (2).
669	669	SECTION 25. DFI-Bkg 14.03 of the administrative code is repealed.
670	670	SECTION 26. DFI-SB 12.03 of the administrative code is repealed.
671	671	SECTION 27. DFI-SL 12.03 of the administrative code is repealed.
672	672	SECTION 28.0Initial applicability.
673	673	(1) PUBLIC DEPOSIT LOSSES. The treatment of s. 34.08 (2) first applies to losses,
674	674	as defined in s. 34.01 (2), occurring on the effective date of this subsection.
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697	697	23 - 15 -2023 - 2024 Legislature
698	698	LRB-2800/1
699	699	ARG:amn&wlj
700	700	SECTION 28
701	701	ASSEMBLY BILL 715
702	702	(2) RESIDENTIAL MORTGAGE LOANS AND VARIABLE RATE LOANS. The treatment of ss.
703	703	138.052 (7e) and (7m) and 138.056 (6) first applies to loans for which applications are
704	704	received on the effective date of this subsection.
705	705	SECTION 29.0Effective dates. This act takes effect on the day after publication,
706	706	except as follows:
707	707	(1) ADMINISTRATIVE RULES. The repeal of sections DFI-Bkg 14.03, DFI-SB
708	708	12.03, and DFI-SL 12.03 of the administrative code takes effect as provided in s.
709	709	227.265.
710	710	(END)
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