AB 442

Under current law, a consumer credit transaction in which the amount financed

is $25,000 or less, and which is entered into for personal, family, or household

purposes, is generally subject to the Wisconsin Consumer Act (WCA). The WCA

includes requirements for a creditor to satisfy to enforce rights arising from a

consumer credit transaction that is subject to the WCA, including pleading

requirements for a complaint filed by a creditor to enforce such rights. In

Rsidue,

L.L.C. v. Michaud

, 2006 WI App 164, 295 Wis. 2d 585, 721 N.W. 2d 718, the Wisconsin

Court of Appeals held that, because the WCA does not refer to an assignee of a

creditor, the pleading requirements do not apply to an assignee. This bill amends the

WCA to specify that the pleading requirements do apply to an assignee of a creditor.