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Dept of Financial Institutions

RCW 43.320

The Department of Financial Institutions provides regulatory oversight for Washington’s financial services industry, which includes a variety of providers such as state chartered banks and credit unions, mortgage brokers, mortgage servicers, consumer loan companies, escrow and loan officers, money transmitters, payday lenders, and securities brokers, dealers, and salespeople. Oversight is provided through licensing and registration, examination, and enforcement activities. The Department also conducts education and outreach activities for consumers as well as regulated entities.

Agency Mission

The Department of Financial Institutions protects consumers and advances the financial health of Washington State by providing fair regulation of financial services and educating consumers to make informed financial decisions.
Request 80,056,000
Net change from current biennium 18,378,000 Increase
Percent change from current biennium 29.8% Increase

Operating Budget: Summary

Appropriated Funds

2021-23 Appropriations Appropriated Funds Expenditures
Amount Estimated Balance   2019-21 Actual 2021-23 Estimated 2023-25 Proposed
(211,000) Securities Prosecution Account - Nonappropriated 55,637 211,000 211,000
(1,000,000) Mortgage Lending Fraud Prosecution - Nonappropriated 801,410 1,000,000 1,000,000
(60,467,000) Financial Services Regulation Acct - Nonappropriated 60,179,839 60,467,000 78,845,000
140,000 140,000 Financial Services Regulation Acct - State
140,000 (61,538,000) Total Appropriated Funds 61,036,886 61,678,000 80,056,000

Non-Appropriated Funds

Operating Budget: Program Summary

Program Title Actual Estimated Proposed
Actual Estimated Estimated Proposed Proposed
Annual Total 29,272,862 31,692,920 11,087,947 38,718,000 41,338,000

Operating Budget: Change from Preceding Biennium

Actual Estimated Proposed
Amount Percent Amount Percent Amount Percent
(970,829) (1.6%) (18,256,018) (29.9%) 37,275,132 87.1%

Employment Summary

  Actual Estimated Proposed
  2020-21 Actual 2021-22 Estimated 2022-23 Estimated 2023-24 Proposed 2024-25 Proposed
FTE Staff Years 194.3 199.8 203.2 221.3 232.5