Consumer Loan Companies News

News for Washington Consumer Loan Companies.

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DFI will hold a webinar hearing regarding the proposed amendments to DFI’s Adjudicative Procedures rules.
Compliance with the Military Lending Act (MLA), 32 CFR Part 232, is mandatory beginning October 3, 2016, except that credit card issuers have until October 3, 2017 to comply.
The Summer 2016 Division of Consumer Services newsletter is now available.
Audio and slide deck from May 3, 2016 meeting now available.
DFI has amended the rules under the Consumer Loan Act. The amended rules are effective April 30, 2016.
The Department wants to caution licensees about “social engineering” scams targeting licensees and their customers. Social engineering scams are when hackers use information about the target gathered from various social media sites or online avenues to gain access to sensitive facets of the victim’s identities.
The 2015 Consumer Loan Annual Assessment Loan List Workbook and Assessment Filing System are now available.
Documents and video recording from the October 22, 2015 mortgage industry webinar are now available.
The Consumer Loan Act, chapter 31.04 RCW, was amended during the recent legislative session by SSB 5299 (Chapter 229, Laws of 2015). DFI has filed a CR-101 to begin rulemaking to propose amendments to the rules to make changes consistent with the amended law, and to make technical and clarifying changes to the rules.
All Washington State Consumer Loan Annual Assessments are due by close of business on March 2, 2015.
This compilation of non-mortgage lending rules under the Consumer Loan Act, chapter 31.04 RCW, is an attempt to help industry navigate the applicable rules. This compilation of the rules is not an amendment to the law or rules and does not change applicability of the law or rules. Licensees are ultimately responsible for complying with the law and rules and any mistaken information or omission of information in this compilation does not release a licensee’s liability for not complying with the law or rules.
Many people already know Microsoft has announced that on April 8, 2014, Windows XP will reach the end of its support lifecycle and will no longer be supported. The discontinuing of support means that Microsoft will no longer provide security patches, technical assistance or support for Windows XP. After April 8, 2014, Washington State Department of Financial Institutions (DFI) will consider all devices connected to the Internet running Windows XP a serious security risk. Devices include: PCs, Laptops, and Tablet PCs
The electronic system for filing your 2013 Consumer Loan Annual Assessment Reports is now available. Annual assessment reports are due to DFI on March 3, 2014.
It has come to our attention that clarification is needed on the Manager Licensing Rule of WAC 208-620-301
Disclosure forms for residential seller financing is now available from DFI.