Find below the customer service details of Washington Department of Financial Institutions. Besides contact details, the page also offers a brief overview of the government company.
Head Office
150 Israel Rd SW
Tumwater WA 98501
United States
Support
Phone: 1-877-746-4334
Email: dfi@dfi.wa.gov
______
About Washington Department of Financial Institutions
The Washington Department of Financial Institutions (DFI) is a group of departments operating under the Washington State government. The primary function of this department is to protect consumers and improve financial health of the state of Washington by monitoring fair regulation of financial services provided to its residents and by educating consumers so that they are empowered to make informed financial decisions.
The regulatory authority of the Washington Dept of Financial Institutions includes State Chartered Depository Institutions such as banks, credit unions, savings banks, foreign bank branches and trust companies. The department also regulates non depository institutions and persons such as check cashers and sellers, consumer loan companies, escrow agents, money transmitters, mortgage brokers, mortgage loan originators and payday dealers.
Apart from the above, the Washington Dept of Financial Institutions regulates the securities industry components such as registered business opportunities, registered franchise offerings, registered securities offerings, investment advisers, representatives of the investment advisers, security broker dealers and securities salespersons. One could say that the DFI regulates all the people and institutions dealing with financial matters in the state to ensure safety and security of its citizens and organizations.
The Washington Dept of Financial Institutions carries out these regulatory duties with the help of its various divisions which regulate the complete gamut of financial enterprises and individuals in the state. There are five such divisions that help the department comprehensively protect the financial climate of the state of Washington. The first is the Division of Administration which acts as the advisory and facilitation department to ensure quality personnel, financial and information systems. With the framework provided by the Division of Administration, all other divisions under the DFI, are able to work effectively and efficiently reaching their goals and targets.
The second division under the Washington Dept of Financial Institutions, is the Division of Banks. This division performs the crucial task of regulating all commercial banks, trust companies, savings banks, savings and loan associations, foreign banks and SBA lenders. Through the regulation of this division, the interests of the depositors, borrowers, shareholders and consumers are well protected.
The Division of Consumer Services is responsible for licensing and regulating business activities of all secondary money providers in the state such as consumer loan companies, mortgage brokers, mortgage loan originators, mortgage loan servicers, student education loan servicers, escrow agents and officers, check cashers, sellers and payday lenders, among others. The division scrutinizes the books and records of these businesses to check for compliance as per state and federal laws, and ensures complaints are sorted out.
The next is the Division of Credit Unions which regulates all state-chartered credit unions that are licensed to operate in the state of Washington. It looks into consumer complaints and processes the same till a solution is met. The fifth is the Division of Securities which regulates the volatile securities investments, franchises, business opportunities and off-exchange commodities that are sold in Washington and includes the individuals and firms that offer either these products or investment advice.
If you have a complaint against a state chartered bank, credit union, consumer loan product, or money transmitter, you can file a complaint with the DFI online. Your complaint will be investigated and due action taken. Before subscribing to the services, you can also check and verify their license on the DFI website.
