WSR 10-19-121

PREPROPOSAL STATEMENT OF INQUIRY

DEPARTMENT OF

FINANCIAL INSTITUTIONS
(Division of Credit Unions)

[ Filed September 21, 2010, 4:42 p.m. ]

Subject of Possible Rule Making: Creating rules for assessing credit union civil money fines under chapter 31.12 RCW, the Washington State Credit Union Act.

Statutes Authorizing the Agency to Adopt Rules on this Subject: RCW 31.12.516, 31.12.853.

Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: The department of financial institutions wants to create rules implementing its civil fining authority over credit unions in order to ensure that such fines are applied consistently and fairly, and that fines are predictable.

Process for Developing New Rule: Negotiated rule making.

Interested parties can participate in the decision to adopt the new rule and formulation of the proposed rule before publication by attending any public hearings on the proposed rule or by contacting the division of credit unions in writing at P.O. Box 41200, Olympia, WA 98504-1200, via phone at (360) 902-8701, or via e-mail at dcu@dfi.wa.gov.

September 21, 2010

Linda Jekel

Division Director

Division of Credit Unions

Washington State Code Reviser's Office