Wis. Admin. Code § DFI-SL 8.05

Written notice to borrower required for denial of loan applications.

Effective Jul 1, 1989Register June 1989 No. 402Department of Financial Institutions-Savings & Loan

There shall be a presumption of discrimination, in violation of s. DFI-SL 8.04, if a written loan application is rejected or the loan commitment contains terms other than those originally applied for and the reason for the rejection or modification is not indicated to the applicant in writing. This section does not apply if notice of adverse action is given under federal law.

History

History: Cr. Register, June, 1989, No. 402, eff. 7-1-89.

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