Rulemaking Update

Student Education Loan Servicers

DFI filed a CR-101 to create rules implementing the law (E2SSB 6029, c 62, Laws of 2018). The rules will include, among other things: definitions and the addition of student education loan servicing and student education loan servicers to those activities and persons regulated under the Consumer Loan Act. Student education loan servicing will have a number of consumer protections and the agency will be able to monitor servicers’ activities. Follow the rulemaking by clicking on the link below.

Consumer Loan Act – Residential Mortgage Loan Servicers

DFI held the public hearing on the proposed rules on June 26, 2018. Additional comments were filed and DFI is analyzing all comments and will be making any final necessary changes. We anticipate meeting our adoption date of July 24 followed by an effective date of September 1, 2018. The proposed amendments, comments, and all other rulemaking documents are available on our website linked below.

Uniform Money Services Act

DFI has adopted amendments to the rules, WAC 208-690. Click on the link below to access the rulemaking page. The amended rules become effective August 1, 2018.

DFI’s Rulemaking Webpage

Throughout rulemakings you can provide comments in any of the following methods:

Contact: Sara Rietcheck
Division of Consumer Services
PO Box 41200
Olympia, WA 98504-1200
Phone: (360) 902-8793
Email: sara.rietcheck@dfi.wa.gov