It's a classical tale although I'm familiar with the Ovid and Boccace version and not the Marie de France one.
To sum it up, in Brittany (or Roma or Italy), live a couple where the husband is out 3 nights a week. His wife, worried ask him if he goes to see other girls and he answers he's a werewolf. Afraid , the wife ask him about his clothes, he says that he goes naked and leave his clothes securely near the chapel. But if he don't find them back, he'll be in wolf form forever. Even more afraid, the woman offer her fortune and her body to another man for him to get rid of her husband's clothes. That's done, the husband is trapped in wolf body, and his wife lives with her lover. Until one day, the king hunting in the neighborhood met the wolf, is surprised by its human behaviour, adopt it as one of his dogs and later discover his history. The clothes are given back to the wolf who turn human, get to his wife beat her and bite her nose, then is restored in his property by the king. His former wife and her lover are banned, have several daughters as children, all of them noseless as their mother.