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Bills · 2015-2016 Regular Session

AB 23

Became law Official bill text Atom feed

Relating to: prohibiting certain actions against financial institutions for offers, promises, agreements, or commitments that are not in writing.

Agricultural credit Court — Procedure Credit Extraordinary session, 2015 — November Financial institution Fraud

  1. Introduced, completed
  2. Passes Assembly, completed
  3. Passes Senate, completed
  4. Governor signs, completed
  5. Law, completed

Unfamiliar terms? Glossary

What this bill does

Plain-language analysis by the nonpartisan Legislative Reference Bureau

This bill prohibits any person from bringing an action against a financial

institution or its affiliate on or in connection with an offer, promise, agreement, or

commitment to lend money, extend credit, or make any other financial

accommodation, or to renew, extend, modify, or permit a delay in repayment or

performance of a loan, extension of credit, or other financial accommodation, unless

the offer, promise, agreement, or commitment 1) is in writing; 2) sets forth relevant

terms and conditions; and 3) is signed with an authorized signature by the financial

institution or its affiliate and delivered to the party seeking to enforce the offer,

promise, agreement, or commitment. Under the bill, a financial institution is a

state-chartered or federally chartered bank, savings bank, savings and loan

association, or credit union and its affiliate is a business entity that controls, is

controlled by, or is under common control with the financial institution. The bill does

not apply to credit transactions that are subject to the Wisconsin Consumer Act.

Sponsors

Introduced by: A. Ott (R) , Craig (R) , Czaja (R) , Horlacher (R) , Hutton (R) , Jarchow (R) , Kahl (D) , Kapenga (R) , Katsma (R)

1 cosponsors

Ballweg (R)

Votes

Assembly: Report Assembly Amendment 2 adoption recommended by Committee on Financial Institutions, Ayes 11, Noes 5

Passed 11–5 Mar 24, 2015 official source full page

No individual roll call was recorded for this vote. Committee votes and some older sessions record totals only.

Assembly: Report passage as amended recommended by Committee on Financial Institutions, Ayes 11, Noes 5

Passed 11–5 Mar 24, 2015 official source full page

No individual roll call was recorded for this vote. Committee votes and some older sessions record totals only.

Assembly: Assembly Amendment 3 laid on table, Ayes 63, Noes 36

Passed 63–36 Apr 14, 2015 official source full page

No individual roll call was recorded for this vote. Committee votes and some older sessions record totals only.

Assembly: Assembly Amendment 4 laid on table, Ayes 63, Noes 36

Passed 63–36 Apr 14, 2015 official source full page

No individual roll call was recorded for this vote. Committee votes and some older sessions record totals only.

Senate: Report concurrence recommended by Committee on Revenue, Financial Institutions, and Rural Issues, Ayes 3, Noes 2

Passed 3–2 Oct 23, 2015 official source full page

No individual roll call was recorded for this vote. Committee votes and some older sessions record totals only.

Full history

  1. Feb 5, 2015 · Assembly

    Introduced by Representatives Craig, Jarchow, Czaja, Horlacher, Hutton, Kahl, Kapenga, Katsma and A. Ott

  2. Feb 5, 2015 · Assembly

    Read first time and referred to Committee on Financial Institutions

  3. Feb 11, 2015 · Assembly

    Public hearing held

  4. Feb 24, 2015 · Assembly

    Assembly Amendment 1 offered by Representative Jarchow

  5. Mar 18, 2015 · Assembly

    Assembly Amendment 2 offered by Representatives Jarchow and Doyle

  6. Mar 19, 2015 · Assembly

    Executive action taken

  7. Mar 24, 2015 · Assembly

    Report Assembly Amendment 2 adoption recommended by Committee on Financial Institutions, Ayes 11, Noes 5

  8. Mar 24, 2015 · Assembly

    Report passage as amended recommended by Committee on Financial Institutions, Ayes 11, Noes 5

  9. Mar 24, 2015 · Assembly

    Referred to committee on Rules

  10. Apr 9, 2015 · Assembly

    Placed on calendar 4-14-2015 by Committee on Rules

  11. Apr 14, 2015 · Assembly

    Read a second time

  12. Apr 14, 2015 · Assembly

    Assembly Amendment 2 adopted

  13. Apr 14, 2015 · Assembly

    Assembly Amendment 3 offered by Representatives Genrich and Sargent

  14. Apr 14, 2015 · Assembly

    Assembly Amendment 3 laid on table, Ayes 63, Noes 36

  15. Apr 14, 2015 · Assembly

    Assembly Amendment 4 offered by Representatives Wachs, Kessler, Hebl, Hesselbein, Sargent and Brostoff

  16. Apr 14, 2015 · Assembly

    Assembly Amendment 4 laid on table, Ayes 63, Noes 36

  17. Apr 14, 2015 · Assembly

    Ordered to a third reading

  18. Apr 14, 2015 · Assembly

    Rules suspended

  19. Apr 14, 2015 · Assembly

    Read a third time and passed

  20. Apr 14, 2015 · Assembly

    Representative Ballweg added as a coauthor

  21. Apr 14, 2015 · Assembly

    Ordered immediately messaged

  22. Apr 15, 2015 · Senate

    Received from Assembly

  23. Apr 23, 2015 · Senate

    Read first time and referred to committee on Revenue, Financial Institutions, and Rural Issues

  24. Apr 29, 2015 · Senate

    Public hearing held

  25. Oct 22, 2015 · Senate

    Executive action taken

  26. Oct 23, 2015 · Senate

    Report concurrence recommended by Committee on Revenue, Financial Institutions, and Rural Issues, Ayes 3, Noes 2

  27. Oct 23, 2015 · Senate

    Available for scheduling

  28. Nov 5, 2015 · Senate

    Placed on calendar 11-6-2015 pursuant to Senate Rule 18(1)

  29. Nov 6, 2015 · Senate

    Senate Amendment 1 offered by Senators Lassa, Ringhand and Bewley

  30. Nov 6, 2015 · Senate

    Senate Amendment 2 offered by Senators Lassa, Ringhand and Bewley

  31. Nov 6, 2015 · Senate

    Senate Amendment 3 offered by Senators Lassa, Hansen, Ringhand, Bewley and Vinehout

  32. Nov 6, 2015 · Senate

    Read a second time

  33. Nov 6, 2015 · Senate

    Placed on the foot of the 12th order of business on the calendar of 11-6-2015

  34. Nov 6, 2015 · Senate

    Senate Amendment 4 offered by Senators Lasee and Lassa

  35. Nov 6, 2015 · Senate

    Rules suspended and Senate Amendment 4 taken up

  36. Nov 6, 2015 · Senate

    Senate Amendment 4 adopted

  37. Nov 6, 2015 · Senate

    Placed on the foot of the 12th order of business on the calendar of 11-6-2015

  38. Nov 6, 2015 · Senate

    Rules suspended and taken up

  39. Nov 6, 2015 · Senate

    Senate Amendment 1 laid on table

  40. Nov 6, 2015 · Senate

    Senate Amendment 2 laid on table

  41. Nov 6, 2015 · Senate

    Senate Amendment 3 laid on table

  42. Nov 6, 2015 · Senate

    Ordered to a third reading

  43. Nov 6, 2015 · Senate

    Rules suspended

  44. Nov 6, 2015 · Senate

    Read a third time and concurred in as amended

  45. Nov 6, 2015 · Senate

    Ordered immediately messaged

  46. Nov 9, 2015 · Assembly

    Received from Senate amended and concurred in as amended (Senate amendment 4 adopted)

  47. Nov 12, 2015 · Assembly

    Referred to calendar of 11-16-2015 pursuant to Assembly Rule 93

  48. Nov 16, 2015 · Assembly

    Senate Amendment 4 concurred in

  49. Nov 16, 2015 · Assembly

    Action ordered immediately messaged

  50. Dec 2, 2015 · Assembly

    Report correctly enrolled on 12-2-2015

  51. Dec 14, 2015 · Assembly

    Presented to the Governor on 12-14-2015

  52. Dec 16, 2015 · Assembly

    Report approved by the Governor on 12-16-2015. 2015 Wisconsin Act 120

  53. Dec 16, 2015 · Assembly

    Published 12-17-2015