Wisconsin Administrative Code
Department of Financial Institutions
DFI-SL 1-22 - Department of Financial Institutions-Savings & Loan
Chapter DFI-SL 8 - Fairness in lending
Section DFI-SL 8.03 - Discrimination prohibited

Universal Citation: WI Admin Code ยง DFI-SL 8.03

Current through February 26, 2024

(1) PROHIBITED BASES OF DISCRIMINATION. No association may, on the grounds of an applicant's physical condition, developmental disability as defined in s. 51.01(5), Stats., sex, marital status, race, color, creed, national origin or ancestry:

(a) Deny a person any form of loan or credit service.

(b) Provide a person with any loan or credit service which is different from, or is provided in a different manner than, that provided other persons similarly situated.

(2) DISCRIMINATION BY LOCATION OF SECURITY. No association may deny or vary the terms of a written loan application on the grounds that a specific parcel of real estate proposed as security for a mortgage loan is located within a given geographic area.

(3) ENFORCEMENT. In the enforcement of this section, the division shall consider business judgments made to achieve genuine business needs, including:

(a) Diversification of an association's investment portfolio.

(b) Operation within the scope of an association's lending experience.

(c) Requiring that the terms of a mortgage loan be such that the amortization of the debt is not less than any reasonably anticipated decline in the value of real property securing the loan.

(d) Compliance with state or federal law or the rules or regulations of a state or federal agency.

This section interprets or implements s. 138.20, Stats.

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