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Below are our latest posts regarding the coronavirus pandemic.

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Lenders Must Be Cautious When Collecting Debts by Telephone During the Covid 19 Crisis

The Department of Financial Institutions (“DFI”) is the State agency responsible for administering the Wisconsin Consumer Act (“WCA”). As Wisconsin dealers who finance sales of vehicles are well aware, the WCA sets strict rules regarding when a consumer loan is considered in default and establishes a series of steps lenders must follow to enforce the loan after default. The rules regulating defaults and enforcement apply to loans in the initial amount of $25,000 or less. However, the WCA also establishes rules all debt collectors must follow when collection debts for consumer transactions, even if the amount financed initially exceeds $25,000.

Legal Issues Relating to Selling Vehicles Other Than in the Showroom

Although the Governor’s “safer at home” order allows motor vehicle dealership sales departments to remain open as “essential businesses” during the coronavirus crisis, many dealers and their customers may wish to conduct sales transactions away from the showroom to minimize health risks. The two principal options to showroom sales are online sales and sales that take place at the customer’s home.