On March 18, the Wisconsin Department of Financial Institutions (DFI) announced the issuance of emergency guidance on character and fitness requirements for all payday and licensed lenders doing business in Wisconsin. The DFI cautions payday and licensed lenders that increasing interest rates, fees, or any costs of borrowing in response to the Covid-19 crisis may result in license suspension or revocation. The emergency guidance also encourages the reduction of rates and fees “as low as operational expenses and sound lending practices allow.”