DFI has filed a CR-101 to create rules implementing the law (SB 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.
Tentative Rulemaking Schedule
Please Note: The anticipated adoption date of August 30, 2018, is delayed pending further consideration of comments received. This means the effective date of October 1, 2018, is also delayed. New dates will be published here when set. We have re-opened the comment period. Please provide any comments as indicated below.
- CR-101: filed 3/20/18 and published in WSR 18-07-095 on 4/4/2018
- CR-102: filed 7/18/18 and published in WSR on 8/10/2018
- Public Hearing: 8/21/18 from 10-11 am at DFI’s headquarters
- Anticipated CR-103: filed end of November
- Anticipated effective date: 01/01/2019
- Proposed Language with Additional Amendments
- August 21, 2018 Rulemaking Hearing (mp3)
- Proposed Language
- Senate Bill 6029
- Kevin Coombs dated October 12, 2018
- Radius Global Solutions dated September 6, 2018
- Testimony of Winfield P. Crigler, Executive Director, Student Loan Servicing Alliance
- Student Loan Servicing Alliance Supplemental Comments dated August 20, 2018
- Student Loan Servicing Alliance dated August 7, 2018
- Jeff Joyce dated August 3, 2018
- Northstar Location Services dated July 31, 2018
- Kevin Coombs dated July 19, 2018
- Ryan Vos, Mandarich Law Group, LLP
Submitting Rulemaking Comments
Throughout the rulemaking you can provide comments in any of the following methods:
Contact: Sara Rietcheck
Division of Consumer Services
P.O. Box 41200
Olympia, WA 98504-1200
Phone: (360) 902-8793
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If you wish to receive paper copies of rulemaking documents you must contact Sara Rietcheck at 360-902-8793 and ask to be added to a paper copy mailing list.