PREPROPOSAL STATEMENT OF INQUIRY
FINANCIAL INSTITUTIONS
Subject of Possible Rule Making: Amending the rules, chapter 208-620 WAC, implementing the Consumer Loan Act, chapter 31.04 RCW.
Statutes Authorizing the Agency to Adopt Rules on this Subject: RCW 43.320.040, 31.04.165.
Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: Existing rules must be amended for clarity and consistency in implementing chapter 31.04 RCW and to reflect current industry practices.
Other Federal and State Agencies that Regulate this Subject and the Process Coordinating the Rule with These Agencies: None.
Process for Developing New Rule: The division will seek input from stakeholders concerning these proposed rules. The division may also discuss any proposed rules with other interested parties or regulatory agencies.
Interested parties can participate in the decision to adopt the new rule and formulation of the proposed rule before publication by contacting Jeannette Terry, Division of Consumer Services, P.O. Box 41200, Olympia, WA 98504-1200, (360) 902-8786, jterry@dfi.wa.gov.
March 15, 2007
Deborah Bortner, Director
Division of Consumer Services