City of Milwaukee - File #: 130843

• File #: 130843
• Version: 0
• Type: Ordinance
• Status: Passed
• File created: 10/15/2013
• In control: COMMON COUNCIL
• Final action: 12/17/2013
• Effective date: 1/9/2014
• Title: An ordinance relating to zoning code definitions of “bank or other financial institution,” “installment loan agency” and “payday loan agency”.
• Sponsors: ALD. BOHL
• Indexes: BANKS AND LENDING INSTITUTIONS, ZONING

Date	Ver.	Action By	Action	Result	Tally
1/8/2014	0	CITY CLERK	PUBLISHED
12/23/2013	0	MAYOR	SIGNED
12/17/2013	0	COMMON COUNCIL	PASSED	Pass	14:0
12/10/2013	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	RECOMMENDED FOR PASSAGE; Minutes note: Individual appearing: Ed Richardson, Department of City Development	Pass	5:0
12/9/2013	0	CITY PLAN COMMISSION	RECOMMENDED FOR PASSAGE AND ASSIGNED	Pass	7:0
12/5/2013	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
12/5/2013	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
12/4/2013	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
12/4/2013	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
12/3/2013	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
11/20/2013	0	CITY CLERK	PUBLISHED; Minutes note: This file is being published 11-20-13 and 11-27-13 for a CPC Mtg. on 12-9-13 at 1:30 p.m.
10/18/2013	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	REFERRED TO; Minutes note: To Whom It May Concern: The attached file is being referred to you for: Report and reply, preparation of ordinance and fiscal note Further information relating to this file may be found via the Legistar system at http://milwaukee.legistar.com/Legislation.aspx. If you have any questions please feel free to contact Chris Lee at 286-2232.
10/15/2013	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	REFERRED TO; Minutes note: To Whom It May Concern: The attached file is being referred to you for: Report and reply, preparation of ordinance and fiscal note Further information relating to this file may be found via the Legistar system at http://milwaukee.legistar.com/Legislation.aspx. If you have any questions please feel free to contact Chris Lee at 286-2232.
10/15/2013	0	COMMON COUNCIL	ASSIGNED TO

Number
130843
Version
ORIGINAL
Reference

Sponsor
ALD. BOHL
Title
An ordinance relating to zoning code definitions of “bank or other financial institution,” “installment loan agency” and “payday loan agency”.
Sections
295-201-55 am
295-201-302.5 am
295-201-445 am
295-203-5-c am
295-203-5-f am
295-203-5-g am
Analysis
This ordinance revises the zoning code definitions of “bank or other financial institution,” “installment loan agency” and “payday loan agency” to link them more closely to types of businesses defined and regulated by state statutes. It also eliminates the maximum loan amount ($1,000) currently found in the definition of “installment loan agency.”
Body
The Mayor and Common Council of the City of Milwaukee do ordain as follows:

Part 1. Section 295-201-55 of the code is amended to read:

295-201. Definitions.

55. BANK OR OTHER FINANCIAL INSTITUTION means [[an establishment providing retail banking, credit and mortgage services]] >>a depository institution, mortgage banker, mortgage broker or mortgage loan originator, as defined in s. 224.71, Wis. Stats<< . This term does not include a currency exchange, a payday loan agency, an installment loan agency or a title loan agency.

Part 2. Section 295-201-302.5 of the code is amended to read:

302.5. INSTALLMENT LOAN AGENCY means an establishment >>licensed as a loan company by the Wisconsin department of financial institutions under s. 138.09, Wis. Stats., and<< providing personal loans [[of up to $1,000]] that have terms of not less than 31 days and not more than one year and are repaid through cash payments, wage assignments, current-dated or post-dated checks, or automatic checking account withdrawals. This term shall not include >>a bank or other financial institution, a payday loan agency, a title loan agency or a currency exchange<< [[any establishment that offers payday loans, title loans or the cashing of checks or money orders; such establishment shall be classified as a payd...