The rate of interest upon the loan or forbearance of any money, goods or things is $5 upon the $100 for one year unless otherwise agreed in writing in the state of Wisconsin pursuant to Section 138.04 of Chapter 138.  According to Section 138.06, any lender or agent of a lender who violates any of the provisions of those Sections dealing with lawful rate of interest can be fined not less than $25 and not more than $500, or imprisoned not more than six months, or both.

According to Section 815.05 (8), every execution upon a judgment for the recovery of money should direct the collection of interest at the rate of twelve percent (12%) per year on the amount recovered from the date of the entry of the judgment until it is paid.

Certain types of transactions and entities are exempt from the state law on usury and interest rates.  The exceptions are:

1. Pursuant to Section 138.041 of Wisconsin Statutes, state-charted banks, credit unions, savings and loan associations and savings bank may take, receive and charge on any loan a rate of interest than lawfully allowed.
2. According to Section 138.052, residential mortgage loans are exempted from the usury limits.
3. According to Section 138.05, any loans made to corporations or limited liability companies are exempted from the usury limits,
4. According to Section 218.0142 of Wisconsin Statutes, any contract on retail installment sale of motor vehicle is exempted from the usury limits.

Wis. Stat. § 138.04

Legal rate.
The rate of interest upon the loan or forbearance of any money, goods or things in action shall be 5 upon the 100 for one year and according to that rate for a greater or less sum or for a longer or a shorter time; but parties may contract for the payment and receipt of a rate of interest not exceeding the rate allowed in ss. 138.041 to 138.056, 138.09 to 138.12, 218.0101 to 218.0163, or 422.201, in which case such rate shall be clearly expressed in writing.

Wis. Stat. § 138.06

(2) Any lender or agent of a lender who violates s. 138.05, 138.051 or 138.052 may be fined not less than 25 nor more than 500, or imprisoned not more than 6 months, or both.
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Wis. Stat. § 815.05

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(8) Except as provided in s. 807.01 (4), every execution upon a judgment for the recovery of money shall direct the collection of interest at the rate of 12% per year on the amount recovered from the date of the entry of the judgment until it is paid.

Wis. Stat. § 138.041

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(2) In order to prevent discrimination against state-chartered financial institutions with respect to interest rates, state-chartered banks, credit unions, savings and loan associations and savings banks may take, receive, reserve and charge on any loan or forbearance made on or after November 1, 1981 and before November 1, 1984, or after October 31, 1987, and on any renewal, refinancing, extension or modification made on or after November 1, 1981 and before November 1, 1984, or after October 31, 1987, of any loan or forbearance, interest at a federal rate prescribed for federally chartered banks, credit unions, savings and loan associations and savings banks, respectively, notwithstanding any other statutes. The federal rate described in this section does not include any rate permitted under a federal law which refers to a rate limit established by a state law which does not apply to state-chartered banks, credit unions, savings and loan associations or savings banks.

Wis. Stat. § 138.052

Residential mortgage loans.
(1) In this section:(a) “Contract rate” means the rate contracted to be paid from time to time on the principal of a loan.(b) “Loan” means a loan secured by a first lien real estate mortgage on, or an equivalent security interest in, a one-family to 4-family dwelling which the borrower uses as his or her principal place of residence and which is made, refinanced, renewed, extended or modified on or after November 1, 1981, but does not include a manufactured home transaction as defined in s. 138.056 (1) (bg) (c) “Loan administration” means a lenders processing of a loan and includes review, underwriting and evaluation of the loan application, document processing and preparation and administration of the loan closing, but does not include appraisals, inspections, surveys, credit reports or other activities incidental to loan origination and normally taking place outside the office of the lender or performed by 3rd persons.(d) “Person related to” has the meaning given under s. 421.301 (32) and (33).

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Wis. Stat. § 138.05
(5) This section shall not apply to loans to corporations or limited liability companies.
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Wis. Stat. § 218.0142

Installment sales.
(1) Every retail installment sale shall be evidenced by an instrument in writing, which shall contain all the agreements of the parties and shall be signed by the buyer.
(2) (a) Prior to or concurrent with any installment sale, the seller shall deliver to the buyer a written statement clearly describing all of the following:
1. The motor vehicle sold to the buyer.
2. The cash sale price.
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