The Washington Department of Financial Institutions (DFI) is the agency that stands behind every rule in this batch. It licenses lenders, enforces RCW 31.45 and RCW 31.04, and gives borrowers a place to check licenses and file complaints.
Quick answer: The Washington Department of Financial Institutions (DFI) licenses and supervises payday and consumer lenders, operates the statewide payday database, and handles borrower complaints and license lookups at dfi.wa.gov.
What DFI does for you
- Licenses payday and consumer lenders operating in Washington.
- Oversees the real-time statewide payday loan database.
- Investigates complaints against lenders and collectors.
- Publishes annual payday lending reports and consumer guides.
How to use DFI before borrowing
Always run the lender through the DFI license lookup first, especially for online offers. If a lender is unlicensed, the loan may be uncollectible and you have grounds to complain. DFI also offers free financial-education resources for Seattle and statewide residents.
FAQ
How do I check if a lender is licensed?
Use the license lookup on dfi.wa.gov before signing anything.
Can DFI help with a complaint?
Yes. DFI accepts and investigates consumer complaints about licensed lenders.
Is DFI a state or federal agency?
It is a Washington state agency; the CFPB is its federal counterpart.
This article is educational and is not financial or legal advice. Loan laws change; always confirm the current rules and verify that any lender is licensed with the Washington Department of Financial Institutions (DFI) before you borrow.