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Tuesday, March 8, 2011

DFI Joins State and National Organizations in Recognizing Consumer Protection Week March 6-12

The Washington State Department of Financial Institutions (DFI) is joining state and national organizations in support of National Consumer Protection Week March 6-12, 2011 (

DFI’s Consumer Protection Week Web site ( provides access to consumer education information, links to additional resources and details on how DFI can help consumers

DFI’s dedication to consumer protection is exemplified in numbers — the number of investigations completed by DFI’s examination and enforcement teams, the number of complaints received the number of actions taken and the number of dollars exacted from companies on behalf of consumers.

DFI’s Division of Consumer Services, 2010:
  • 271 New Investigations
  • 1,879 Complaints Received
  • 806 R&Cs & R&Rs (complaints that were closed with a Resolution & Closure or Resolution and Request for Action – and Respondent complied with the Request for Action)
  • 415 Actions (includes Temporary Cease & Desist, Statement of Charges, Consent Orders, and Final Orders)
  • Restitution: $160,605.93
  • Restitution Escheated to State: $17,068.40
  • Fines: $793,243.28
DFI’s Division of Securities also investigated several cases and took action in 2010:
  • 129 administrative actions
  • 1 civil action
  • 4 criminal actions filed
  • 93,583 victims
  • Dollars lost: $2,003,420,300
  • $2,050,238,000 returned to Washington investors in the auction rate securities cases
  • An additional $3,701,287,850 nationwide in the Wells Fargo case
  • Dollars of restitution ordered in criminal cases: $11,739,282.56
  • Fines collected:$5,043,813.70