Division of Banks News

News from the Washington State Division of Banks.

RSS Feed RSS Feed

01/15/2015
Additional information related to the Trust Institutions Modernization Act (“TIMA”). Description of the changes in the law, as well as the approach the Department of Financial Institutions (“DFI”) is taking to implement the new law.
01/08/2015
It has come to the attention of the Washington State Department of Financial Institutions that certain Washington State-chartered banks, savings banks, and credit unions may still be using an unnecessary separate “disclosure summary” for 1-4 family residential home loan applications
12/29/2014
In response to recent increase of time spent by state regulators regarding payment issues, the Conference of State Bank Supervisors (CSBS) has established the Emerging Payments Task Force. The Task Force has published a model regulatory framework for emerging payments, such as virtual currency, and is seeking public comments.
12/17/2014
The Conference of State Bank Supervisors (CSBS) has issued a Cybersecurity 101: A Resource Guide for Bank Executives.
10/15/2014
DFI's Division of Banks recently answered a question regarding DFI's position on indirect banking of marijuana-related businesses. See the document linked below for more information.
08/06/2014
The Division of Banks online semi annual assessment system is now available.
07/21/2014
DFI encourages banks to work with customers impacted by the wildfires.
06/18/2014
The Director of the Department of Financial Institutions has issued an interpretive statement regarding the use of the terms "banking", "bank", and "banker" by state-chartered credit unions.
05/06/2014
DFI encourages banks to work with customers affected by the SR-530 Mudslide.
04/11/2014
Letter to banks from DFI regarding the Heartbleed vulnerability.
03/01/2014
As you are undoubtedly aware, Microsoft is ending its support for the Windows XP operating system after April 8, 2014. This letter from the Division of Banks discusses what this means and steps banks should take to protect their computer systems.
02/14/2014
On February 14, 2014, the Department of the Treasury, Financial Crimes Enforcement Network, issued Guidance FIN-2014-G001, “BSA Expectations Regarding Marijuana-Related Businesses.” Boards and management teams of our state-chartered financial institutions should carefully review this guidance and discuss it with legal counsel when considering whether and how to provide banking services to I-502 compliant entities and individuals and/or whether to accept I-502 tax proceeds for transmission to the Washington State Department of Revenue.
12/02/2013
The Division of Banks has issued the final rule amending Chapter 208-544 WAC to (1) provide for semi-annual assessments of non-depositary trust companies, (2) adjust the hourly examination fee schedule and other charges for all of the Division of Banks’ regulated institutions, (3) establish and/or clarify miscellaneous service charges, and (4) make technical changes for purposes of clarity (including plain-language amendments and additions), and promote equalization as between different types of chartered entities and based on considerations of asset size, examination hours, and services provided.
04/09/2013
The Conference of State Bank Supervisors issued a letter in strong support of the Stopping Abuse and Fraud in Electronic Lending Act of 2013 (the SAFE Lending Act).
11/30/2012
The Federal Trade Commission has announced publication of an Interim Final Rule on identity theft "red flags" that narrows the circumstances under which creditors are covered by the Rule.