What a payday loan costs — before Wisconsin’s rules
A payday loan typically costs $15–$20 per $100 borrowed for a two-week term — roughly 400% APR — and is due as a single lump sum on your next payday. That single-payment structure, not the fee on any one loan, is the trap: most fees come from borrowers who cannot clear the balance in one go and roll it over. Where a state caps rates below payday levels, licensed payday lending disappears and a loan above the cap is generally void — not legally collectible, whatever the contract says.
The law in Wisconsin
- Rate cap
- No effective rate cap — Wisconsin sets no APR ceiling on payday or consumer loans; documented tribal rates exceed 600–740%.
- Key law
- Wisconsin payday-lending statute (Wis. Stat. ch. 138.14) — licensing and a $1,500 principal limit, but no APR cap.
- Enforcement
- No completed Wisconsin AG action against tribal lenders verified. Extensive 2024 ProPublica reporting covered the Lac du Flambeau lenders, and a Minnesota AG settlement forced an LDF lender (charging ~800% APR) to stop operating in Minnesota.
Wisconsin’s Lac du Flambeau lenders charged one borrower 741% APR and appear as a creditor in an estimated ~4,800 bankruptcy cases a year — the highest of any tribe in the sector.
What it means for a Wisconsin borrower
High-cost lending is legal and enforceable, and Wisconsin is home to the Lac du Flambeau tribe’s large online lending operations (Lendgreen and its sister brands) that lend nationwide. In-state borrowers have little rate protection.
Before you borrow in Wisconsin
- Complain to the Wisconsin Department of Financial Institutions.
- If you reside in a capped state, your home-state law may still void the loan.
Cheaper first — try these before a payday loan in Wisconsin
Payday Loans and tribal lenders in Wisconsin
Many online lenders that market payday loans to Wisconsin residents are tribal lenders arguing their sovereignty places them outside state rate caps — a separate legal question this site tracks in depth. For which tribal brands lend to Wisconsin residents and how state law applies to them, see the Wisconsin tribal-lending page.
Tribal loans in Wisconsin →Frequently asked questions
Does an online or tribal lender have to follow Wisconsin's payday loan rules?
Wisconsin applies its rules to loans made to its residents, wherever the lender sits. Tribal lenders argue that sovereign immunity puts them outside state rate caps — an argument courts have accepted in some cases and rejected in others. For which tribal brands lend to Wisconsin residents and how the state treats them, see the Wisconsin tribal-loan page.
What can I do about a payday loan I already have in Wisconsin?
Wisconsin allows this lending, so the loan is generally enforceable — but you can still revoke ACH authorization in writing, avoid taking a second loan to cover the first, and file a complaint with the Wisconsin attorney general or the CFPB if the lender breaks the rules.