October 29, 2026
On October 23, 2026, the Washington Department of Financial Institutions filed a new notice of proposed rulemaking to continue its rulemaking related to the Predatory Loan Prevention Act (SSB 6025). Consistent with the DFI's previously-withdrawn proposed rulemaking, this proposed rulemaking would amend the regulations implementing the Consumer Loan Act by adding a new section to the CLA regulations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. The DFI will hold a hearing on the new proposed rulemaking on December 15, 2026.
Prior Alerts:
Washington's DFI Withdraws Proposal for Standards to Determine Whether Person Holds Predominant Economic Interest in Loan under Predatory Loan Prevention Act
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