Student Education Loan Servicers Rulemaking

Industry: 
Consumer Loan Companies
Rulemaking Status: 
Open

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

Documents

Comments Received

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
Email: sara.rietcheck@dfi.wa.gov

Email Updates

By signing up for our GovDelivery service you will receive email containing information or links to information on DFI’s web site about industry newsletters, annual assessments, rulemaking documents including notices of comment periods and hearing dates, licensing information, interpretive and policy statements and other important industry information.

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.