Washington State Department of Financial Institutions

Credit Unions Rulemaking Archive

Below you will find an archive of rulemaking activity and documents for the Division of Credit Unions.

Assessing Civil Money Fines - Suspended

Subject of rulemaking: Creating rules for assessing credit union civil money fines under chapter 31.12 RCW, the Washington State Credit Union Act.

Rulemaking Suspended - November 30, 2010
The CR-101 rulemaking process for assessing civil money fines has been suspended in compliance with the Governor’s Executive Order 10-06, Suspending Non-Critical Rule Development and Adoption.

Rulemaking Documents

Comments Received

Typographical Correction To Asset Assessment Rule

The Division of Credit Unions has completed rulemaking to correct a typographical error in the asset assessment rule (WAC 208-418-040). Although the Bulletin B-08-16 and the Division of Credit Union’s procedural handling of the rule were correct, a scrivener’s error was discovered in the rule as published.

Rulemaking Documents

Other Real Estate Owned (OREO)

Requirements and standards for state-chartered credit unions in the mitigation of losses for loans collateralized by real property, or real property acquired as a result of loan defaults, and the management, marketing, sales and accounting practices required when dealing with "other real estate owned," typically from foreclosed properties.

Rulemaking Documents

SHB 2770 Rulemaking - "GUIDANCE"

On November 4, 2008, the Division of Credit Unions filed the final rule (CR-103, WSR 08-22-072) for credit union compliance with the federal “Interagency Guidance on Nontraditional Mortgage Product Risks” and the federal “Statement on Subprime Mortgage Lending.”

The new rule will take effect on December 5, 2008.


Comments Received

Updated Fee Regulations Rulemaking

On November 26, 2008, the Division of Credit Unions filed the final rule (CR-103, WSR 08-24-057) on asset assessment and fee rate increases for credit unions. Learn more (Bulletin B-08-16).

The new rule will take effect on December 31, 2008.


Comments Received

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