Banking And Finance
West Virginia 2025 Regular Session
Enacting bank protections for eligible adults from financial exploitation [SB-848]
[Consumer Protection ]
[Senior Citizens ]
[Finance ]
[Law Enforcement ]
[Public Safety ]
[Human Services ]
[Crime ]
The purpose of this bill is to provide banking protections for eligible adults from financial exploitation by permitting depository institutions, broker-dealers, and investment advisors to delay, refuse, or prevent certain activities and financial transactions when an entity or employer suspects financial exploitation of an elder adult or incapacitated adult may be at issue. This bill further permits disclosure of such activity or financial transaction to an eligible adults' authorized third-party as well as a designated state agency.
Sponsored by: Sen. Patricia Rucker
To House Finance on 04/02/2025
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Gettr West Virginia 2025 Regular Session
Enacting the Bank Protections for Eligible Adults from Financial Exploitation Act [HB-3294]
[Consumer Protection ]
[Senior Citizens ]
[Finance ]
[Law Enforcement ]
[Public Safety ]
[Human Services ]
[Crime ]
The purpose of this bill is to provide banking protections for eligible adults from financial exploitation by permitting depository institutions, broker-dealers, and investment advisors to delay, refuse, or prevent certain activities and financial transactions when an entity or employer suspects financial exploitation of an elder adult or incapacitated adult may be at issue. This bill further permits disclosure of such activity or financial transaction to an eligible adults' authorized third-party as well as a designated state agency.
Sponsored by: Rep. John Hott
Communicated To Senate on 04/12/2025
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West Virginia 2025 Regular Session
Reorganizing the Board of Banking and Financial Institutions, the Division of Financial Institutions, and the Lending and Credit Rate Board [HB-3269]
[Finance ]
[Labor, Jobs, Employment ]
The purpose of this bill is to reorganize the Board of Banking and Financial Institutions, the Division of Financial Institutions, and the Lending and Credit Rate Board as independent divisions within the executive branch subject to control and oversight by the Board to address the Division's extreme difficulty hiring and retaining bank examiners.
Sponsored by: Rep. Adrian Criss
Introduced In Senate on 03/29/2025
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West Virginia 2025 Regular Session
Creating Voluntary Portable Benefit Account Act [SB-714]
[Labor, Jobs, Employment ]
[Insurance ]
[Small Business ]
[Technology and Innovation ]
[Economic Development ]
The purpose of this bill is to create the Voluntary Portable Benefit Account Act. The bill provides for a short title. The bill creates definitions. Finally, the bill provides for the enactment of the article for the creation of voluntary portable benefit accounts.
Sponsored by: Sen. Patricia Rucker
Filed For Introduction on 03/06/2025
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West Virginia 2025 Regular Session
Creating Fair Access to Financial Services Act [SB-663]
[Consumer Protection ]
[Finance ]
[Data Privacy ]
The purpose of this bill is to create the Transparency and Accountability in Financial Services Act; provide a short title; set forth legislative declarations; provide definitions; requiring transparency upon request and prohibiting discrimination; establish enforcement provisions; provide for severability; and clarify relevant consumer protection provisions.
Sponsored by: Sen. Patricia Rucker
To House Judiciary on 04/01/2025
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West Virginia 2025 Regular Session
Ensuring that survivor of merger, reorganization, purchase, or assumption of liabilities of bank chartered by WV is insured by FDIC [SB-665]
[Finance ]
[Insurance ]
The purpose of this bill is to ensure that the survivor of a merger, reorganization, purchase, or assumption of liabilities of a bank chartered by West Virginia is insured by the Federal Deposit Insurance Corporation.
Sponsored by: Sen. Mike Azinger
Filed For Introduction on 03/04/2025
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West Virginia 2025 Regular Session
To ensure that the survivor of a merger, reorganization, purchase, or assumption of liabilities of a bank chartered by West Virginia is insured by the Federal Deposit Insurance Corporation [HB-2963]
[Finance ]
[Insurance ]
The purpose of this bill is to ensure that the survivor of a merger, reorganization, purchase, or assumption of liabilities of a bank chartered by West Virginia is insured by the Federal Deposit Insurance Corporation.
Sponsored by: Rep. Adrian Criss
Approved By Governor 4/29/2025 on 04/29/2025
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West Virginia 2025 Regular Session
Uniform Special Deposits Act [HB-2745]
The purpose of this bill is to provide for the creation of the Uniform Special Deposits Act.This bill was recommended for passage during the 2025 legislative session by the Commission on Interstate Cooperation.
Sponsored by: Rep. John Williams
Filed For Introduction on 02/21/2025
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West Virginia 2025 Regular Session
Relating to merging of intrastate banks [HB-2790]
[Finance ]
The purpose of this bill is to establish the process for merging intrastate banks.
Sponsored by: Rep. John Hott
To House Banking And Insurance on 03/03/2025
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West Virginia 2025 Regular Session
Relating to Uniform Special Deposits Act [SB-561]
[Finance ]
The purpose of this bill is to create the Uniform Special Deposits Act and provide for the Act's administration.This bill was recommended for passage during the 2025 legislative session by the Commission on Interstate Cooperation
Sponsored by: Sen. Michael Woelfel
Approved By Governor 4/30/2025 on 04/30/2025
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West Virginia 2025 Regular Session
To make gold, silver, and crypto currency legal tender in WV [HB-2463]
[Finance ]
[Technology and Innovation ]
[Consumer Protection ]
[Economic Development ]
The purpose of this bill is to recognize gold and silver bullion and specie as legal tender in West Virginia, to authorize the West Virginia Bullion Depository, and to authorize the depository to issue transactional currency backed by gold and silver.
Sponsored by: Rep. Daniel Dean
Filed For Introduction on 02/17/2025
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West Virginia 2025 Regular Session
To create the State Bank of West Virginia [HB-2464]
[Finance ]
[Budget and Spending ]
[Economic Development ]
The purpose of this bill is to create the State Bank of West Virginia as a state-managed depository for bullion and specie within the State Treasurer's office.
Sponsored by: Rep. Daniel Dean
Filed For Introduction on 02/17/2025
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West Virginia 2025 Regular Session
Relating to loan form [SB-501]
[Finance ]
The purpose of this bill is to modify the type of writing required to be maintained by a licensee regarding fees or points.
Sponsored by: Sen. Eric Tarr
House Received Senate Message on 03/12/2025
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West Virginia 2025 Regular Session
Establishing branch banks and Federal Deposit Insurance Corporation requirements [SB-446]
[Finance ]
[Insurance ]
The purpose of this bill is to preclude the establishment of a branch bank or the acquisition or merger of a bank or a credit union by a bank or credit union unless they are insured by the Federal Deposit Insurance Corporation.
Sponsored by: Sen. Eric Tarr
Filed For Introduction on 02/13/2025
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West Virginia 2025 Regular Session
Uniform Special Deposits Act [SB-39]
[Finance ]
[Real Estate ]
[Consumer Protection ]
The purpose of this bill is to enact the Uniform Special Deposits Act, which was recommended for passage by the state Uniform Law Commission; special deposits are deposits held by banks, which unlike regular deposits are held until some contingent event triggers the deposit, such as a court approving a settlement, or of a closing of a real estate transaction; and is intended to provide an optional uniform process for banks to use to regulate this activity. This bill was recommended for introduction by the Commission on Interstate Cooperation.
Sponsored by: Sen. Mike Oliverio
Filed For Introduction on 02/12/2025
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West Virginia 2025 Regular Session
Prohibiting financial institutions from discriminating against firearms businesses [SB-64]
[Firearms/Gun Control ]
[Finance ]
[Consumer Protection ]
[Small Business ]
[Law Enforcement ]
[Public Safety ]
The purpose of this bill is to prohibit financial institutions from discriminating against firearms businesses. The bill specifies civil remedies. The bill provides for attorney's fees and costs for a successful action. The bill provides for a statute of limitations on civil actions. The bill provides for potential loss of state business to a financial institution found to have violated this article. Finally, the bill provides for an effective date.
Sponsored by: Sen. Rupert Phillips
Filed For Introduction on 02/12/2025
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West Virginia 2025 Regular Session
Authorizing restitution to victims of securities fraud [SB-63]
[Finance ]
[Consumer Protection ]
[Law Enforcement ]
[Public Safety ]
[Criminal Justice ]
The purpose of this bill is to authorize restitution to victims of securities fraud and to create a fund for that purpose.
Sponsored by: Sen. Mike Oliverio
Filed For Introduction on 02/12/2025
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West Virginia 2025 Regular Session
To prohibit the charging of any fees to cash any government issued check. [HB-2084]
[Consumer Protection ]
[Finance ]
The purpose of this bill is to prohibit merchants from charging fees to cash a check issued by a governmental entity.
Sponsored by: Rep. Larry Kump
To House Revenue on 02/17/2025
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West Virginia 2024 Regular Session
Relating to fees for checks and money order sales, money transmission services, transportation and currency exchange [HB-5648]
[Finance ]
[Trade ]
[Transportation and Motor Vehicles ]
[Consumer Protection ]
The purpose of this bill is to set the d fee for transactions sent to a recipient outside the United States.
Sponsored by: Rep. Margitta Schaaf-Mazzocchi
Filed For Introduction on 02/13/2024
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West Virginia 2024 Regular Session
Relating generally to the use of gold and silver as legal tender in the State of West Virginia [HB-5649]
[Finance ]
[Taxes ]
[Investments ]
[Economic Development ]
The purpose of this bill is to recognize gold and silver bullion and specie as legal tender in West Virginia, to authorize the West Virginia Bullion Depository, and to authorize the depository to issue transactional currency backed by gold and silver.
Sponsored by: Rep. William Ridenour
Filed For Introduction on 02/13/2024