WSR 04-16-043

AGENDA

DEPARTMENT OF

FINANCIAL INSTITUTIONS

[ Filed July 28, 2004, 12:28 p.m. ]


Department of Financial Institutions

Semi-Annual Agenda for Rules Under Development

July 1, 2004 - December 31, 2004



DIVISION OF CONSUMER SERVICES


1. Proposed amendments to chapter 208-630 WAC relating to check cashers and sellers, to comply with chapter 31.45 RCW as amended by chapter 86, Laws of 2003, and to clarify and improve the regulatory program.


DIVISION OF CREDIT UNIONS (DCU)


1. WAC 208-418-040 may be amended to increase the asset assessment fees up to I-601 limitations for fiscal year 2005, except for credit unions under $22 million total assets.

2. DCU is in the process of meeting with an industry Debt Cancellation Contracts Task Force. The task force may suggest guidance for debt cancellation contracts. Subsequently, DCU may initiate rule making.


DIVISION OF SECURITIES


The Securities Division has filed preproposals (CR-101s) pertaining to the following:

1. WAC 208-680G-050 would be amended to clarify that both in-state and out-of-state licensees may be charged for examinations and investigations. This is necessary in order to make the escrow-licensing program self-supporting.

2. A new rule, WAC 208-680E-025, concerning periodic reporting will help the division monitor compliance with chapter 18.44 RCW and the regulations adopted thereunder.

3. Amendments to WAC 208-680F-020 are needed to clarify the types of securities that may be substituted for the errors and omissions policy required by RCW 18.44.201.

4. A new rule, WAC 208-680G-060, would begin to define unfair and deceptive practices under RCW 18.44.301.

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