Rulemaking

None at this time.

Enforcement Actions

See 2011 enforcement actions taken by the Division of Consumer Services.

Contact Us

Email: dcs@dfi.wa.gov
Phone: 1-877 RING DFI (746-4334)
Web: www.dfi.wa.gov/cs

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Money Services Update

Licensing Updates
Number of licenses as of March 21, 2011

• Money Transmitter: 89
• Money Transmitter Authorized Delegates: 9,093
• Currency Exchanger: 5
• Currency Exchanger Authorized Delegates: 7

Quarterly Report Revised
We have recently made changes to the Money Transmitter Quarterly Report Form. This form can now be used to add, amend, and delete Money Transmitter Authorized Delegates quarterly. You may check out the new form using the following link. http://dfi.wa.gov/cs/pdf/mt_quart_rpt_form.pdf

Examinations Update
For Existing Licensees/Annual Reports: Annual Reports and assessments are due July 1, 2011. The 2010 report form is not yet available on our website, please check the website in the coming months to access the form when it is available. It is important to note that:

• Failure to submit the Annual Report and Assessment will result in the suspension of your license and a late fee;
• Last year’s rules went into effect changing the calculation of the surety bond by basing it on the previous twelve month money transmission and payment dollar volume. All licensees must submit an original signed and sealed surety bond rider if their surety bond amount needs to be increased based on the new calculations.