Regulatory Alerts2014-12-29 | I-14-05Discontinuing Use of State-Mandated Disclosure Summary under RCW 19.144.020
The Washington State Department of Financial Institutions issued Interpretive Letter I-14-05 to inform regulated institutions that the separate state-mandated "Disclosure Summary" is no longer required. This determination follows the enactment of RCW 19.144.020(4) and the implementation of the CFPB's combined TILA/RESPA Loan Estimate, which render the state-specific form redundant. The directive applies to all Washington State-chartered banks, savings banks, credit unions, and third-party forms vendors.
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