WSR 04-03-080

PREPROPOSAL STATEMENT OF INQUIRY

DEPARTMENT OF

FINANCIAL INSTITUTIONS

[ Filed January 20, 2004, 9:36 a.m. ]

Subject of Possible Rule Making: Regulating check cashers, check sellers and small loan lenders licensed under chapter 31.45 RCW, and implementing chapter 86, Laws of 2003.

Statutes Authorizing the Agency to Adopt Rules on this Subject: RCW 43.320.040, 31.45.030, 31.45.050, 31.45.200.

Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: Existing rules must be amended and new sections developed to implement and be consistent with chapter 31.45 RCW as extensively amended by chapter 86, Laws of 2003.

Other Federal and State Agencies that Regulate this Subject and the Process Coordinating the Rule with These Agencies: The Treasury Department of the United States. Department staff has consulted with appropriate Treasury Department staff to determine check casher and seller duties under federal law, and to ensure there is no conflict between federal responsibilities and the contemplated rule.

Process for Developing New Rule: Negotiated rule making; and agency study.

Interested parties can participate in the decision to adopt the new rule and formulation of the proposed rule before publication by contacting Chuck Cross, Acting Assistant Director, Consumer Services, P.O. Box 41200, Olympia, WA 98504-1200, (360) 902-8733, fax (360) 664-2258, ccross@dfi.wa.gov.

January 20, 2004

David D. Cheal

Rules Coordinator

Consumer Services

Legislature Code Reviser 

Register

Washington State Code Reviser's Office