Winter 2020/2021 news and updates from the Washington State Department of Financial Institutions. See: Printer Friendly PDF Version of Newsletter Featured Articles The Importance of State-Level Financial Regulation - Message from DFI Director Charlie Clark DFI Director Charlie Clark discusses the importance of state-level financial regulation. Insurance Products Can Help Washington Property Owners Avoid Financial Devastation - Special message from Insurance Commissioner Mike Kreidler Special message from Washington State Insurance Commissioner Mike Kreidler. Banking and Financial Services Updates The Emergence of Virtual Currency and Digital Assets in Financial Institutions DFI is closely watching the emergence of virtual currency and digital assets in financial institutions. Understanding The Community Bank Sentiment Index (CBSI) The Community Bank Sentiment Index (CBSI)(link is external) polls community bankers across the nation quarterly to gain insight into their outlook on the economy. State Regulators Issue Ransomware Mitigation Tool State financial regulators issued a self-assessment tool to banks they supervise in an effort to help mitigate ransomware attacks. DFI Updates DFI Partnering with Washington State Housing Finance Commission to Promote Down Payment Assistance Programs Down payment assistance programs may be a best-kept secret for first-time home buyers. Diversity Advisory Team at DFI Promoting A Culture of Inclusiveness DFI established the Diversity Advisory Team (DAT) in 2017, to develop and support inclusion strategies across DFI. Division of Credit Unions Bids Farewell to Longtime Staff Member Doug Lacy-Roberts After more than two decades of service to DFI, Doug Lacy-Roberts is saying goodbye. Consumer News Shop ‘Til You Drop…Your Mortgage Rate Tips and things to keep in mind when shopping for a lower mortgage rate. Understanding Reverse Mortgages Part 2 Basics of reverse mortgages and how they work. Securities Updates DFI’s Securities Division Collaborates With Other State and Federal Regulators in Recent Enforcement Actions In September 2020, three collaborative enforcement efforts by the Securities Division came to fruition. Washington Corporations Must Comply With New Gender Diversity Requirements for Boards of Directors About the new law. Investment Adviser Renewal Season Is Here Time to renew those licenses.