Payday Lenders Rulemaking - Information System Database Fee Increase — Form CR-103P

RULE-MAKING ORDER
PERMANENT RULE ONLY
CODE REVISER USE ONLY
CR-103P (December 2017)
(Implements RCW 34.05.360)
Agency: Department of Financial Institution, Division of Consumer Services Effective date of rule:
Permanent Rules
☐ 31 days after filing.
☒ Other (specify) March 1, 2025 (If less than 31 days after filing, a specific finding under RCW 34.05.380(3) is required and should be stated below) Any other findings required by other provisions of law as precondition to adoption or effectiveness of rule? ☐ Yes ☒ No If Yes, explain:
Purpose: Since January 1, 2010, borrowers are not permitted to receive more than eight small loans from any payday lender in any 12-month period. RCW 31.45.073(4). Payday lenders are required to verify the number of small loans a borrower has received to ensure the eight small loan limit is not exceeded by checking the required information database. RCW 31.45.093; WAC 208-630-555; WAC 208-630-556. Payday lenders must pay $1 per small loan registered. WAC 208-630-556. This $1 fee has not been amended or increased since 2010. The Division of Consumer Services is increasing the fee to ensure the information database can continue to be used to assist and inform lenders of a borrower’s eligibility to take out a small loan. Citation of rules affected by this order:
New: None.
Repealed: None.
Amended: WAC 208-630-556
Suspended: None.
Statutory authority for adoption: RCW 31.45.093, RCW 31.45.200, and RCW 43.320.040 Other authority:
PERMANENT RULE (Including Expedited Rule Making) Adopted under notice filed as WSR 24-24-103 on December 4, 2024 (date). Describe any changes other than editing from proposed to adopted version: None. If a preliminary cost-benefit analysis was prepared under RCW 34.05.328, a final cost-benefit analysis is available by contacting:
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Note: If any category is left blank, it will be calculated as zero.
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The number of sections adopted in order to comply with:
Federal statute: New 0 Amended 0 Repealed 0
Federal rules or standards: New 0 Amended 0 Repealed 0 Recently enacted state statutes: New 0 Amended 0 Repealed 0 The number of sections adopted at the request of a nongovernmental entity:
New 0 Amended 0 Repealed 0
The number of sections adopted on the agency’s own initiative:
New 0 Amended 1 Repealed 0
The number of sections adopted in order to clarify, streamline, or reform agency procedures:
New 0 Amended 0 Repealed 0
The number of sections adopted using:
Negotiated rule making: New 0 Amended 1 Repealed 0 Pilot rule making: New 0 Amended 0 Repealed 0 Other alternative rule making: New 0 Amended 0 Repealed 0 Date Adopted: 1/28/2025 Name: Charlie Clark Title: Director Signature: