July 21, 2026
On June 25, 2026, the Washington Department of Financial Institutions issued a Notice of Withdrawal of its proposal to amend the regulations implementing the Consumer Loan Act by adding a new section to the CLA Regulations setting forth the standards the DFI will apply when determining whether a person holds, acquires, or maintains the predominant economic interest in a loan or whether the totality of the circumstances indicates that a person is the lender for purposes of the Predatory Loan Prevention Act (SSB 6025). The proposal was withdrawn because it was not adopted within the 180-day period allowed by law.
Prior Alert:
Washington DFI Re-Files Proposal for Standards to Determine Whether Person Holds Predominant Economic Interest in Loan for Purposes of Predatory Loan Prevention Act and Issues Updated Interim Guidance Extending Compliance Grace Period