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WASHINGTON DEPARTMENT OF FINANCIAL INSTITUTIONS

By Beverly Turner,2014-05-18 23:56
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WASHINGTON DEPARTMENT OF FINANCIAL INSTITUTIONS

    STATE OF WASHINGTON

    DEPARTMENT OF FINANCIAL INSTITUTIONS

    DIVISION OF CONSUMER SERVICES

    P.O. Box 41200 ? Olympia, Washington 98504-1200

    Telephone (360) 902-8703 ? TDD (360) 664-8126 ? FAX (360) 664-2258 ? http://www.dfi.wa.gov

    February 23, 2009

TO: Check Casher and Check Seller Licensees, including those with a Small Loan Endorsement (Payday Lenders)

RE: 2008 Annual Report and Assessment due April 15, 2009

Dear Licensee:

Enclosed are blank copies of two reports required for Licensees of the Check Cashers and Sellers Act:

    1. Annual Assessment Report (AAR)

    2. Consolidated Annual Report (CAR)

These two reports, along with assessment fees, and year-end financials statements must be completed and filed with the Department of

    Financial Institutions (DFI) by close of business Wednesday, April 15, 2009.

What if I did not do any business in Washington during the 2008 calendar year?

    Even if you did no business in Washington during 2008, you must file both of these reports with DFI by April 15, 2009.

What happens if my company files after the April 15, 2009, deadline?

    If you file after the deadline, DFI has the authority to suspend your license(s) and assess a late fee equal to 25 percent of your annual

    assessment fee.

What constitutes a complete filing?

    A complete filing includes the following items:

    1. Annual Assessment Report (AAR), even if no fees are owed

    2. Annual Assessment check made payable to the “Washington State Treasurer,” for entire amount of assessment fee due

    3. Consolidated Annual Report (CAR)

    4. Year-end financial statements, both Balance Sheet and Income Statement, prepared in accordance with Generally Accepted

    Accounting Principles (GAAP). Please note that financial statements MUST be audited if your company uses net worth in lieu

    of a surety bond

    5. 2008 Annual Report Affidavit

Where do I send the packet?

    Send the complete packet to either of these addresses:

    Via: US Postal Service Via: Other Couriers (UPS, FedEx, etc)

    Department of Financial Institutions Department of Financial Institutions

    Attn: Consumer Services Exam Unit Attn: Consumer Services Exam Unit

    PO Box 41200 150 Israel Rd SW

    Olympia, WA 98504-1200 Tumwater, WA 98501

Check Casher & Seller Licensees

    Annual Reporting for 2008 period

    February 23, 2009

    Page 2 of 2

What do I do if my company’s fiscal year did not end on December 31, 2008?

    If your company’s fiscal year does not match the calendar year, then you must do the following three things:

    1. Provide all data called for in the attached AAR and CAR for your operations in calendar year 2008 by the close of business

    April 15, 2009.

    2. Along with your AAR and CAR, provide written notice to DFI including your company’s license number, fiscal year ending

    date, and the date you expect to deliver your company’s annual financial statements to DFI.

    3. Deliver your company’s annual financial statements within 105 calendar days after the end of your fiscal year.

What if I am not the proper person to complete this request?

    Immediately forward it to the person in your company responsible for reporting. Licensees are responsible for keeping DFI informed of

    changes to the contact person for your company. If the contact information has changed, notify DFI in writing immediately.

Thank you for responding promptly. If you have questions or need assistance, please contact:

    Alex Ketter

    Financial Examiner Supervisor

    Phone: 360-725-9660

    Email: aketter@dfi.wa.gov

Enclosures: Blank AAR and CAR

STATUTES AND RULES RELIED UPON: Chapter 31.45 RCW and Chapter 208-630 WAC.

    STATE OF WASHINGTON

    DEPARTMENT OF FINANCIAL INSTITUTIONS

    DIVISION OF CONSUMER SERVICES

    P.O. Box 41200 ? Olympia, Washington 98504-1200

    Telephone (360) 902-8703 ? TDD (360) 664-8126 ? FAX (360) 664-2258 ? http://www.dfi.wa.gov

    WASHINGTON STATE CHECK CASHERS, CHECK SELLERS, and SMALL LOAN ENDORSEMENTS

    2008 ANNUAL ASSESSMENT REPORT (AAR)

Name of Company as Licensed in Washington:

WA File Number:

Reporting Period: 2008 Calendar Year

    Due Date: April 15, 2009

A penalty of 25 percent (25%) of the annual assessment fee will be assessed if the AAR, CAR, and assessment fees are received in our

    office after due date.

Type of Activity Conducted (check all that apply):

     Check Cashing (payroll checks, government checks, etc) Registered as a Money Services Business (MSB)

     Check Selling (money orders, travelers checks, etc) Agent for:

     Small Loans (payday loans, cash advance, payroll advance, deferred deposit, etc)

    2008 Washington Check Casher, Check Seller, and Payday Loan Activity Washington Dollar

    (Answer every question or write “N/A” if Not Applicable) Locations Volume

    Total dollar volume of checks cashed in Washington State (WA) during 2008 $ 1

    If line 1 above is greater than $1 million, enter the total number of company’s locations # 2 holding WA Check Casher Licenses

    Total dollar volume of checks sold in WA during 2008 $ 3 (Enter zero if checks are sold as an agent of another company)

    If line 3 above is greater than $1 million, enter the total number of company’s locations # 4 holding WA Check Seller Licenses

    Total dollar volume of small loans made in WA during 2008 $ 5

    If line 5 above is greater than $1 million, enter the total number of company’s locations # 6 holding WA Small Loan Endorsements

    Add lines 2, 4, and 6 # 7

     Annual Assessment Fee Calculation

    $ Annual Assessment Fee: multiply line 7 by $513.95, enter the result here, and pay this 8 amount. Make checks payable to the “Washington State Treasurer”

    (Submit this document by due date, even if annual assessment fee is zero)

    WASHINGTON STATE CHECK CASHERS, CHECK SELLERS, and SMALL LOAN ENDORSEMENTS

    2008 CONSOLIDATED ANNUAL REPORT (CAR), Page 1

Name of Company as licensed in Washington:

WA File Number:

Reporting Period: 2008 Calendar Year

    Due Date: April 15, 2009

    A penalty of 25 percent (25%) of the annual assessment fee will be assessed if the AAR, CAR, and assessment fees are received in our

    office after due date.

Note: This CAR should include all of the company’s Washington State business in a single report. Do not submit separate reports for

    separate branches. Report dollar amounts in whole dollars. Leave no blanks; enter “0” or “N/A” if needed.

    TABLE 1 Column A Column B Column C Column D Analysis of Business Conducted in Washington During the Check Check Small Loans Company

    Reporting Period Cashing Selling Totals

     1a Total number of employees for WA locations #

     1b Total annual payroll for WA locations $ 2a Total number of WA transactions* # # # 2b Total dollar volume of WA transactions* $ $ $ 3 Total dollar amount of fees collected on WA transactions* $ $ $ $ 4a Number of un-deposited checks held at the end of the period # # #

    for WA transactions

    4b Dollar amount of un-deposited checks held at the end of the $ $ $

    period for WA transactions

    5a Number of returned (NSF) checks/ACH during the period on # # #

    WA transactions

    5b Dollar amount of returned (NSF) checks/ACH during the $ $ $

    period on WA transactions

    6 Total dollar amount of fees collected for returned (NSF) $ $ $

    checks/ACH on WA transactions