PROPOSED RULE MAKING

CR-102 (June 2024) (Implements RCW 34.05.320) Do NOT use for expedited rule making

CODE REVISER USE ONLY

Agency: Department of Financial Institutions

☒ Original Notice

☐ Supplemental Notice to WSR

☐ Continuance of WSR

☒ Preproposal Statement of Inquiry was filed as WSR 26-10-087 ; or

☐ Expedited Rule Making--Proposed notice was filed as WSR ; or

☐ Proposal is exempt under RCW 34.05.310(4) or 34.05.330(1); or

☐ Proposal is exempt under RCW .

Title of rule and other identifying information: (describe subject) Predatory Loan Prevention Act Rulemaking

Hearing location(s):

Date:	Time:	Location: (be specific)	Comment:
December 15, 2026	11:00 am	Department of Financial Institutions, 150 Israel Road SW, Tumwater, WA 98501	Teams option available. Information will be posted on the Agency’s Rulemaking Docket webpage at https://dfi.wa.gov/agency-rulemaking

Date of intended adoption: December 16, 2026 (Note: This is NOT the effective date)

Submit written comments to:	Assistance for persons with disabilities:
Name Rochelle Henderson	Contact Rochelle Henderson
Address P.O. BOX 41200, Olympia, WA 98504-1200	Phone (360) 701-0581
Email rochelle.henderson@dfi.wa.gov	Fax
Fax	TTY 1-800-833-6384
Other	Email rochelle.henderson@dfi.wa.gov
Beginning (date and time) October 25, 2026	Other
By (date and time) December 15, 2026	By (date) December 15, 2026

Purpose of the proposal and its anticipated effects, including any changes in existing rules: To amend the Consumer Loan Act rules, chapter 208-620 WAC, due to the amendments set forth in the Predatory Loan Prevention Act (SSB 6025). The proposed amendments include a new section setting forth the Department of Financial Institutions’ interpretation of section 2 of SSB 6025, and makes technical amendments to align, clarify, or conform rule language in accordance with statutory changes that were made in SSB 6025. Certain proposed amendments also make technical changes to align with Executive Order 23-02 relating to plain language, without changing the meaning of the rule.

Reasons supporting proposal: The proposed language clarifies the application of new and amended requirements set forth in SSB 6025 and makes conforming changes to the existing rule language.

Statutory authority for adoption: RCW 31.04.025(7), RCW 31.04.165, and RCW 43.320.040.

Statute being implemented: chapter 31.04 RCW

Is rule necessary because of a:

Federal Law?	☐ Yes	☒ No
Federal Court Decision?	☐ Yes	☒ No
State Court Decision?	☐ Yes	☒ No

If yes, CITATION:

Agency comments or recommendations, if any, as to statutory language, implementation, enforcement, and fiscal matters:

Name of proponent: (person or organization)

Type of proponent: ☐ Private. ☐ Public. ☒ Governmental.

Name of agency personnel responsible for:	Name	Office Location	Phone
Drafting	Jeanju Choi	150 Israel Road SW, Tumwater, WA 98501	(360) 725-7821
Implementation	Jeanju Choi	150 Israel Road SW, Tumwater, WA 98501	(360) 725-7821
Enforcement	Jeanju Choi	150 Israel Road SW, Tumwater, WA 98501	(360) 725-7821

Is a school district fiscal impact statement required under RCW 28A.305.135? ☐ Yes ☒ No

If yes, insert statement here:

The public may obtain a copy of the school district fiscal impact statement by contacting:

Name
Address
Phone
Fax
TTY
Email
Other

Is a cost-benefit analysis required under RCW 34.05.328?

☐ Yes: A preliminary cost-benefit analysis may be obtained by contacting:

Name
Address
Phone
Fax
TTY
Email
Other

☒ No: Please explain: The Department of Financial Institutions is not one of the agencies listed in RCW 34.05.328.

Regulatory Fairness Act and Small Business Economic Impact Statement

Note: The Governor's Office for Regulatory Innovation and Assistance (ORIA) provides support in completing this part.

(1) Identification of exemptions:

This rule proposal, or portions of the proposal, may be exempt from requirements of the Regulatory Fairness Act (see chapter 19.85 RCW). For additional information on exemptions, consult the exemption guide published by ORIA. Please check the box for any applicable exemption(s):

☐ This rule proposal, or portions of the proposal, is exempt under RCW 19.85.061 because this rule making is being adopted solely to conform and/or comply with federal statute or regulations. Please cite the specific federal statute or regulation this rule is being adopted to conform or comply with, and describe the consequences to the state if the rule is not adopted.

Citation and description:

☐ This rule proposal, or portions of the proposal, is exempt because the agency has completed the pilot rule process defined by RCW 34.05.313 before filing the notice of this proposed rule.

☐ This rule proposal, or portions of the proposal, is exempt under the provisions of RCW 15.65.570(2) because it was adopted by a referendum.

☒ This rule proposal, or portions of the proposal, is exempt under RCW 19.85.025(3). Check all that apply:

☐ RCW 34.05.310 (4)(b) (Internal government operations)

☒ RCW 34.05.310 (4)(e) (Dictated by statute)

☐ RCW 34.05.310 (4)(c) (Incorporation by reference)

☐ RCW 34.05.310 (4)(f) (Set or adjust fees)

☒ RCW 34.05.310 (4)(d) (Correct or clarify language)

☐ RCW 34.05.310 (4)(g) ((i) Relating to agency hearings; or (ii) process requirements for applying to an agency for a license or permit)

☒ This rule proposal, or portions of the proposal, is exempt under RCW 19.85.025(4). (Does not affect small businesses).

☐ This rule proposal, or portions of the proposal, is exempt under RCW .

Explanation of how the above exemption(s) applies to the proposed rule:

(2) Scope of exemptions: Check one.

☒ The rule proposal: Is fully exempt. (Skip section 3.) Exemptions identified above apply to all portions of the rule proposal.

☐ The rule proposal: Is partially exempt. (Complete section 3.) The exemptions identified above apply to portions of the rule proposal, but less than the entire rule proposal. Provide details here (consider using this template from ORIA):

☐ The rule proposal: Is not exempt. (Complete section 3.) No exemptions were identified above.

(3) Small business economic impact statement: Complete this section if any portion is not exempt.

If any portion of the proposed rule is not exempt, does it impose more-than-minor costs (as defined by RCW 19.85.020(2)) on businesses?

☐ No Briefly summarize the agency’s minor cost analysis and how the agency determined the proposed rule did not impose more-than-minor costs.

☐ Yes Calculations show the rule proposal likely imposes more-than-minor cost to businesses and a small business economic impact statement is required. Insert the required small business economic impact statement here:

The public may obtain a copy of the small business economic impact statement or the detailed cost calculations by contacting:

Name
Address
Phone
Fax
TTY
Email
Other

Date: 10/23/2026	Signature:
Name: Charlie Clark
Title: Director, Department of Financial Institutions