Assembly Bill 23

Prohibiting certain actions against financial institutions for offers, promises, agreements, or commitments that are not in writing

Became law

The governor signed it on Dec 16, 2015. It's ⁠.

Introduced, passed

Feb 5, 2015
Committee, passed

Approved
Assembly vote, passed

Passed Apr 14, 2015
Senate vote, passed

Passed Nov 6, 2015
Governor, passed

Signed
Law, here now

2015 Wisconsin Act 120

Latest entry in the official record, Dec 16, 2015: “Published 12-17-2015”

Read the bill

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Terms on this page

Wisconsin Act

The number a bill gets when it becomes law, like 2025 Wisconsin Act 12.

Official term: Act. More in the glossary

Legislative Reference Bureau

The Legislature's nonpartisan office that drafts bills and writes the summary at the top of each one.

Official term: LRB analysis. More in the glossary

Author

A lawmaker who formally puts a bill forward. The text itself is drafted by the Legislative Reference Bureau.

Official term: Author, coauthor. More in the glossary

Signed on in support

Lawmakers who back a bill without being one of its authors, often from the other chamber.

Official term: Cosponsor. More in the glossary

Roll call

A vote where each lawmaker's yes or no is recorded by name.

Official term: Roll call vote. More in the glossary

What it does

Summary by the , the Legislature's nonpartisan drafting office. It's their wording, not ours.

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.

Who's behind it

9 lawmakers are its ⁠. 8 are Republicans and 1 is a Democrat.

1 more lawmaker ⁠.

See all 10 names

Authors (9)

Alvin Ott · Republican, Assembly
David Craig · Republican, Senate
Mary Czaja · Republican, Assembly
Cody Horlacher · Republican, Assembly
Rob Hutton · Republican, Senate
Adam Jarchow · Republican, Assembly
Robb Kahl · Democrat, Assembly
Chris Kapenga · Republican, Senate
Terry Katsma · Republican, Assembly

Signed on in support (1)

Joan Ballweg · Republican, Senate

Versions and amendments

Every text the Legislature printed for this bill, including proposed changes. Each opens on the Legislature's site.