Semi-Annual Agenda for Rules Under Development
January 1, 2001 - June 30, 2001
1. Amendments to chapters 208-512, 208-514, 208-528, 208-532, 208-544, 208-512, 208-556, and 208-586 WAC to correct outdated WAC numbers referred to in those chapters. No substantive changes have been requested.
2. The preproposal statement of inquiry filed in June 2000 as WSR 00-13-099 has been withdrawn. The preproposal concerns amending current rules (chapter 208-512 WAC) and adopting new rules governing lending limits of state-chartered commercial banks. A new preproposal statement of inquiry will be filed at a later date (expected to be filed within the next six months).
3. Amendments to chapters 208-544 and 208-586 WAC to increase fees and assessments charged to banks, trust companies, alien banks, and savings and loan associations. The rules would provide for an automatic annual increase in fee and assessment levels, up to the "fiscal growth factor" under chapter 43.135 RCW, and allow for the waiver of fee and assessment increases.
DIVISION OF CONSUMER SERVICES
1. Amendments to chapter 208-680 WAC, Escrow agents, to bring the rules into conformance with amendments made to chapter 18.44 RCW in 1999. By clarifying the language in the rules, the statute should be more understandable.
2. Amendments to chapter 208-620 WAC, Consumer loan companies. The department has submitted legislation that will copy some provisions from the Mortgage Broker Practices Act (MBPA) over to the Consumer Loan Act, chapter 31.04 RCW. These will include enforcement provisions such as fines, order restitution, ban individuals, temporary cease and desist authority and prohibited practices; minimum bond amount for loans secured by real estate; and allows for prepaid interest for up to forty-five days on loans secured by real estate. Assuming this legislation passes and is signed by the governor, the division will begin the process to amend chapter 208-620 WAC.
3. Amendments to chapter 208-620 WAC, Consumer loan companies, chapter 208-630 WAC, Check cashers and sellers, chapter 208-660 WAC, Mortgage brokers, and chapter 208-680 WAC, Escrow agents, to increase fees in all four programs by the fiscal growth factor.
DIVISION OF CREDIT UNIONS
1. Amendments to WAC 208-472-041, small occupational and associational groups up to five hundred persons, to create parity with federal credit unions.
2. Adopt rules regarding member business lending by state credit unions (chapter 208-460 WAC).
3. Amendments to chapter 208-218 WAC, increasing fees and assessments charged to credit unions and related parties.
DIVISION OF SECURITIES
1. Amendments to chapter 460-33A WAC, Mortgage paper securities, as part of a general update.
2. Amendments to chapter 460-24A WAC, Investment advisers, to mandate electronic filing by investment advisers.
3. Amendments to WAC 460-16A-205, NASAA policy statements, to reflect updates made to various NASAA policy statements.