WSR 02-16-005

AGENDA

DEPARTMENT OF

FINANCIAL INSTITUTIONS

[ Filed July 25, 2002, 2:06 p.m. ]


Department of Financial Institutions

Semi-Annual Agenda for Rules Under Development

July 1, 2002 - December 31, 2002



DIVISION OF BANKS


1. The division will be filing a proposed rule making to amend chapter 208-512 WAC, specifically, WAC 208-512-290 (8)(h), which governs lending limits of state-chartered commercial banks.

2. The division will be filing a rule-making order to raise fees up to the fiscal growth factor as allowed under Initiative 601. The chapters that will be amended are chapters 208-544 and 208-586 WAC.

3. The division will be filing a rule-making order amending WAC 208-512-230(8) to bring the definition of the term "surplus" in line with the definition contained in RCW 30.04.111(8).


DIVISION OF CONSUMER SERVICES


1. Amendments to chapter 208-680 WAC, Escrow Agent Registration Act, to provide guidance to escrow agents performing collection escrows, to address technical concerns in the area of trust accounting, to provide additional definitions of terms, provide for licensing options and possibly to specify bonding requirements.

2. Amendments to chapter 208-620 WAC, Consumer Loan Act, to reflect changes to the statute, to update and modernize the rules, and to provide additional guidance to licensees regarding the conduct of mortgage brokerage activities under the Consumer Loan Act.

3. Amendments to chapter 208-620 WAC, Consumer Loan Act, to prevent misleading advertising.

4. Amendments to chapter 208-660 WAC, Mortgage Broker Practices Act, to prevent misleading advertising.


DIVISION OF CREDIT UNIONS


The division does not anticipate initiating any rule making.


DIVISION OF SECURITIES


1. WAC 460-16A-205, the division plans to propose amendments to this section to reflect recent updates to various North American Securities Administrators Association (NASAA) statements of policy.

2. WAC 460-21B-060, 460-22B-090, and 460-24A-145, the division plans to complete the expedited adoption of minor amendments to these sections to correct outdated cross-references and a typographical error.

Washington State Code Reviser's Office