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Enforcement Actions

See enforcement actions taken by the Division of Consumer Services.

Message from Charlie Clark

Image of Charlie Clark

I hope you are all enjoying some summertime weather in the beautiful Pacific Northwest or wherever your summer travels may take you.

In the last newsletter I told you about the passage of our agency request legislation amending the Uniform Money Services Act (chapter 19.230 RCW).

As we commonly do following statutory amendments, we have begun a rulemaking to implement the changes. The rulemaking is in the very early stages, and we expect to have considerable industry input as we did with the statute.nges....

Message from Charlie Clark


Examinations Update

Magnify Paperwork

In the consumer loan origination area, we continue to see violations cited by our examiners surrounding the failure to accurately complete rate lock agreements and the failure to accurately complete privacy policy disclosures.

Rate lock agreements must include whether the rate lock agreement is guaranteed and, if guaranteed by a company other than your company, they must include the name of that company.

Examinations Update


Tip of the Quarter for License Management

License Management

A major piece of maintaining your license with the Department is keeping your information updated.

Everything from an address change, a new trade name, removal of an officer, and disclosing a new action against you or your company must be reported....

Tip of the Quarter for License Management


Cyber Security Workshop Recap

Cyber Security

In March of this year the Department partnered with the National Cyber Security Alliance (NCSA) to provide a first of its kind Cyber Security Workshop for small and medium sized Washington businesses.

This workshop focused on consumer services licensees. Thirty-four industry professionals attended the three hour in-person training that occurred in Renton, Washington

Cyber Security Workshop Recap


Rulemaking Update

Washington Capitol Building

Uniform Money Services Act: DFI has filed a CR-101 to propose amendments to the rules. The rule amendment proposals will implement changes to the law and provide guidance to the industry.

Consumer Loan Act: DFI has adopted the proposed amendments to the rules on capital requirements for licensees under the Consumer Loan Act servicing residential mortgage loans.

Rulemaking Update