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Fall 2017 Newsletter
Veritec On-Demand Training for Payday Lenders
A licensed payday lender has the responsibility for the actions of any employee or person who engages in business on the licensee’s behalf. WAC 208-690-740 requires that licensees ensure that employees have sufficient understanding of the law and rules to ensure compliance.
The Department would like to bring attention to the fact that Veritec offers training modules that outline all requirements of a payday lender licensed in the State of Washington. These training modules can aid in educating those given the authority to engage in the business of payday lending and assist in preventing violations of RCW 31.45 and WAC 208-690.
The training modules can be accessed with the pin your company received at the time of licensing. Check with your company account administrator or email CSLicensing@dfi.wa.gov to obtain the pin. Once this pin is received, go to Veritecs.com, click on Training, click on Pin Login, enter the pin, verify that the correct corporate information is displayed, and click continue. Follow the instructions and select the training module accordingly.
You are encouraged to require any employee or designated person who engages in business on behalf of a licensee to take these modules in an effort to ensure compliance with the Check Cashers and Sellers Act.