Division of Banks Rulemaking Docket

Rulemaking is the process government agencies must use to create, modify, or repeal rules in the Washington Administrative Code (WAC).

Rules are regulations, standards, or other statements of general applicability adopted by an agency to either:

1. Implement, interpret, or make specific a law enforced or administered by an agency, or
   
   
2. Prescribe or interpret an agency policy, procedure or practice requirement binding on persons outside the agency.

Rules are valid and binding on the persons they affect, and have the force of law unless amended, revised, or unless a court of competent jurisdiction determines otherwise.

Petition for Adoption, Amendment, or Repeal of a State Rule
Individuals or groups who wish to petition DFI to adopt, amend, or repeal an administrative rule may do so by using the form linked below. You also may contact DFI using other formats, such as a letter or email.

• Petition for Adoption, Amendment, or Repeal of a State Administrative Rule (PDF)*

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Rulemaking: Limit on Loans and Extensions of Credit

Subject:

• Limits on Loans and Extensions of Credit: Compliance with Section 611 of Dodd-Frank Act (Concerning “Derivatives Transactions”);
• Clarification and Modernization of Rules Related to the Lending Limits Statute (RCW 30.04.111);
• Conditional Applicability to Savings Banks under Title 32 RCW

Rulemaking Documents and Recording

• Final Rule (Text)
  • OTS-5131.1 – Repeal of WAC 208-512-210 through WAC 208-512-300 (PDF)*
  • OTS-5132.4 – New Chapter 208-512A WAC (PDF)*
• WSR 13-03-037 (Permanent Rule) – Filed 1/8/2013, Effective 2/8/2013 (PDF)*
• WSR 13-03-036 (Emergency Rule) – Filed 1/8/2013, Effective 1/21/2013 (PDF)*
• Concise Explanatory Statement (PDF)*
• Written Public Comments
  • Homestreet Bank Comments - Dated 11/13/12 (PDF)*
  • Homestreet Bank Comments - Dated 12/14/12 (PDF)*
• Public Hearing
  • Summary of December 11, 2012 Hearing (PDF)*
  • 12/11/12 Audio Recording (MP3)
• CR-102 - Notice of Proposed Rulemaking (PDF)*
• Original Proposed Rule (Text)
  • OTS-5131.1 - WAC Sections Repealed (PDF)*
  • OTS-5132.2 - WAC 208-512A - Limits on Loans and Extensions of Credit (PDF)*
• CR-101 - Preproposal Statement of Inquiry (PDF)*

Inquiries

Submit or make inquiries to:

Joseph M. Vincent (General Counsel)
P.O. Box 41200
Olympia, Washington 98504-1200
Phone: (360) 902-0516
FAX (360) 586-5068
joseph.vincent@dfi.wa.gov

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Rulemaking Steps

Generally, rulemaking takes place in three distinctive steps based on filings required by the Office of the Code Reviser:

1. CR-101 Pre-proposal Statement of Inquiry. At this stage, proposed text is usually not available. Comment is invited on whether rules in the areas identified in the CR-101 are needed and, if so, the content of those rules.
2. A CR-102 Rulemaking Proposal is filed if it is decided to proceed. Proposed text is filed with the CR-102 and a comment period and public hearing are scheduled.
3. After the comment period and public hearing, a CR-103 Rulemaking Order will be filed if it is decided to proceed with the rule. The final text is included with the CR-103. The newly adopted rules are generally effective 31 days after filing with the Code Reviser.

Once a rule has been adopted, it becomes a part of the Washington Administrative Code (WAC).

* This document is a PDF file, and you will need Adobe Acrobat Reader to view it. If you don't already have Acrobat Reader installed on your computer, you may download it for free from Adobe.

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