(1)    No creditor shall divide or otherwise encourage the customer or customers to become obligated at the same time on more than one consumer loan, more than one consumer credit sale, or one or more interlocking consumer loans (s. 422.408) and consumer credit sale for the purpose of obtaining a higher rate of finance charge than would otherwise be permitted under chs. 421 to 427.

   (2)   Multiple agreements which arise out of substantially the same transaction shall be presumed to be in violation of this section.

   (3)   A violation of this section is subject to s. 425.305.