Division of Banks News Archive
News archive for the Washington State Division of Banks.
For current news, please see the Division of Banks homepage.
Rulemaking: Modernization of Hourly Examination Fees, Assessments, and Other Fees and Charges
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.
Rulemaking Documents and Information
Semi Annual Assessment Due No Later Than July 31, 2013
Assessment due no later than July 31, 2013 based on assets as of June 30, 2013.
Download Assessment Worksheet (Excel)
Banks Encouraged To Work With Those Affected By The Skagit Bridge Collapse
DFI recognizes the serious impact that the Interstate 5 bridge collapse may have on business, commerce, and operations of financial institutions in the State of Washington. DFI is encouraging banks to work constructively with customers affected by this disaster. Banks that operate or have customers in the area affected by this event should consider ways to assist customers while transportation disruptions persist.
Memo from DFI Regarding Bridge Collapse (PDF)*
State Bank Regulators Support Bill Restricting Online Payday Lending
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).
Announcement from CSBS
Sunwest Bank Purchases Westside Community Bank
Westside Community Bank was closed by DFI on Friday, January 11, 2013. Sunwest Bank has purchased all the assets of Westside Community Bank.
Information from DFI
State and Federal Authorities Combat Corporate Account Takeover
State and federal authorities have announced efforts to assist financial institutions in adopting best practices to reduce the risks of corporate account takeover. Corporate account takeover is a form of identity theft where cyber thieves gain control of a business’ bank account, often by stealing user passwords and other valid credentials. Once this information is obtained, thieves can then initiate fraudulent wire and ACH transactions.
Statement from CSBS
FTC Issues Amended Rule on Identity Theft "Red Flags"
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.
Announcement from FTC
State Regulators Support Integrated RESPA and TILA Disclosures
The Conference of State Bank Supervisors (CSBS) support efforts by the Consumer Financial Protection Bureau (CFPB, or the Bureau) to integrate mortgage disclosures. The revised disclosures are geared toward addressing the discrepancies between the Real Estate Settlement Procedures Act (RESPA) and the Truth in Lending Act (TILA), for which lenders, consumers, and regulators have long-pursued reconciliation.
Statement from CSBS
CSBS Statement on Proposed Capital Rules
The Conference of State Bank Supervisors (CSBS) has released a statement regarding proposed capital rules set forth by federal banking agencies.
Statement from CSBS
- Outgoing CSBS Chairman Affirms Significance of Community Banks
John P. Ducrest, Louisiana Commissioner of Financial Institutions and Immediate Past Chairman of the Conference of State Bank Supervisors (CSBS), gave outgoing remarks during a question and answer session at the annual CSBS State-Federal Supervisory Forum in Savannah, Georgia.
Statement from John P. Ducrest
- Newly Elected CSBS Chairman Underscores State Federal Coordination
Greg Gonzales, Commissioner of the Tennessee Department of Financial Institutions, was elected Chairman of the Board during the annual meeting of the Conference of State Bank Supervisors (CSBS). In his address to attendees of the annual State Federal Supervisory Forum, Gonzales shared priorities for the year ahead and stressed the importance of state and federal coordination.
Text off Gonzales’ Speech
- CSBS Announces 2012-2013 Board & Officers
The Conference of State Bank Supervisors announced new officers and board members for 2012-2013. Greg Gonzales, Commissioner of the Tennessee Department of Financial Institutions, was elected Chairman of the Board.
Announcement from CSBS
- Division of Banks Opinions Search Engine
You can now search for opinions (2003-current) from the Washington Division of Banks using our new opinions search engine and index.
- DFI Receives CSBS Certificates of Accreditation
The Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR) announced that DFI has received certificates of accreditation for both their bank and mortgage regulatory programs. These accreditations certify that Washington DFI maintains the standards and practices in state banking and mortgage supervision set by the CSBS Accreditation Program and the CSBS and AARMR Mortgage Accreditation Program.
Announcement from DFI
- Community Banks Receive Funding to Help Small Businesses Access Capital, Create New Jobs
The U.S. Department of the Treasury has announced that community banks, including U&I Financial Corp of Lynnwood, Peoples Bancorp of Lynnwood, and Puget Sound Bank of Bellevue have received capital provided by the Small Business Lending Fund (SBLF). The SBLF, which was established as part of the Small Business Jobs Act that President Obama signed into law, encourages community banks to increase their lending to small businesses, helping those companies expand their operations and create new jobs.
About the Small Business Lending Fund
- Richard M. Riccobono Appointed As Director Of Banks
DFI is pleased to announce the appointment of Richard M. Riccobono as the new Director of Banks.
Announcement from DFI
- OCC Proposes Rule to Implement Provisions of the Dodd-Frank Act
The Office of the Comptroller of the Currency on May 25, 2011 issued a proposed rule implementing several provisions of the Dodd-Frank Act, including the transfer of functions from the Office of Thrift Supervision and changes to national bank preemption and the OCC's visitorial authority.
Announcement from OCC
- FAQs Regarding the Licensing of Depository Institution Subsidiaries and their Employees
Answers to frequently asked questions regarding the licensing of depository institution subsidiaries and their employees.
Answers to Frequently Asked Questions
- DFI Submits Response To Puget Sound Business Journal Article
DFI has submitted a written response to the 4/01/2011 Puget Sound Business Journal story "Do we still need the state banking regulator?"
DFI's Response To "Do We Still Need The State Banking Regulator?" (PDF)*
- SBA Launches Temporary Program for Commercial Real Estate Refinancing
Small businesses facing maturity of commercial mortgages or balloon payments before Dec. 31, 2012, may be able to refinance their mortgage debt with a 504 loan from the U.S. Small Business Administration under a new, temporary program announced today.
Information from SBA
- Start of Federal Registration for Mortgage Loan Originators
Federal registration of Mortgage Loan Originators began on January 31, 2011. Under the Secure and Fair Enforcement for Mortgage Licensing Act (S.A.F.E. Act) and the agencies' final rules, residential mortgage loan originators employed by banks, savings associations, credit unions, or Farm Credit System institutions must register with the registry, obtain a unique identifier from the registry, and maintain their registrations. The initial registration period ends on July 29, 2011.
More Information from the FDIC
2010 and Earlier
- DFI, FDIC Lift Cease & Desist Order Against Sterling Savings Bank
DFI and the FDIC have terminated the cease and desist order against Sterling Savings Bank put in place October 09, 2009, acknowledging Sterling’s successful efforts to recapitalize and meet specific operational requirements.
DFI Announcement of Termination of Cease and Desist Against Sterling
- FAQs For Bank Business Loan Customers In Turbulent Times
DFI answers some of the frequently asked questions business loan customers may have about loans and credit lines.
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