Banking And Finance
Virginia 2008 Regular Session
Payday Loan Act; requires SCC to contract with one or more parties to develop, etc. database. [HB-1351]
[Consumer Protection ]
[Finance ]
[Law Enforcement ]
[Military ]
[Public Safety ]
Payday Loan Act. Requires the State Corporation Commission, by July 1, 2009, to certify and contract with one or more third parties to develop, implement, and maintain an Internet-accessible database, and requires payday lenders to query the database prior to making any loan to determine whether an applicant is eligible for the loan. A payday lender is prohibited from making a payday loan if the loan would cause the borrower to have more than two payday loans outstanding at the same time. Payday lenders are prohibited from knowingly making loans
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Sponsored by: Rep. Kathy J. Byron House: Left In Commerce And Labor on 02/12/2008
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Gettr Virginia 2008 Regular Session
Credit reports; authorizes consumer to freeze access thereto. [HB-1339]
[Consumer Protection ]
[Data Privacy ]
[Finance ]
Security freezes on credit reports; penalty. Authorizes any consumer to freeze access to his credit report. If a consumer has placed a freeze on his credit report, a consumer reporting agency is prohibited from releasing the credit report or any information in it without the consumer’s express authorization. The measure provides a means by which a consumer may release his report, permanently, temporarily, or to a specific third party. Consumer reporting agencies may charge a consumer up to $5 for each freeze, removal of the freeze, or temporary
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Sponsored by: Rep. William K. Barlow House: Incorporated By Commerce And Labor (hb1311-byron) By Voice Vote on 01/29/2008
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Virginia 2008 Regular Session
Unclaimed property; credit union accounts. [HB-1313]
[Finance ]
[Consumer Protection ]
Unclaimed property; credit union accounts. Provides state-chartered credit unions with the same flexibility regarding inactive or dormant account fees and interest that federally-chartered credit unions may exercise under applicable federal law.
Sponsored by: Rep. Kathy J. Byron Governor: Acts Of Assembly Chapter Text (chap0556) on 03/17/2008
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Virginia 2008 Regular Session
Credit reports; authorizes consumer to freeze access thereto. [HB-1311]
[Consumer Protection ]
[Data Privacy ]
[Finance ]
[Law Enforcement ]
Freezing access to credit reports. Authorizes any consumer to freeze access to his credit report. If a consumer has placed a freeze on his credit report, a consumer reporting agency is prohibited from releasing the credit report, or any information in it, without the consumer's express authorization. The measure provides a means by which a consumer can release his report, permanently, temporarily, or to a specific third party. Certain disclosures are exempt from the freeze. A fee of up to $10 may be charged for establishing a freeze, except identity
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Sponsored by: Rep. John M. O'Bannon Governor: Acts Of Assembly Chapter Text (chap0496) on 03/14/2008
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Virginia 2008 Regular Session
Credit reports; fee exemption for security freezes for military personnel [HB-1307]
[Military ]
[Consumer Protection ]
[Data Privacy ]
Credit freeze; fee exemption for military personnel. Prohibits any credit reporting agency that permits consumers to freeze access to their credit reports from charging a fee for establishing, temporarily lifting, or removing a security freeze to any consumer domiciled in Virginia who is a member of the United States military services or the Virginia National Guard, or the spouse of such a person. This bill is incorporated into
Sponsored by: Rep. Vivian E. Watts House: Incorporated By Commerce And Labor (hb1311-byron) By Voice Vote on 01/29/2008
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Virginia 2008 Regular Session
Consumer Real Estate Settlement Protection Act; licensing standards. [HB-1264]
[Real Estate ]
[Consumer Protection ]
[Finance ]
[Law Enforcement ]
[Housing ]
[Insurance ]
[Crime ]
Consumer Real Estate Settlement Protection Act. Allows a person who has been convicted of a felony involving fraud, deceit or misrepresentation to be employed by a settlement agent and assist in the performance of escrow, closing or settlement services involving the receipt or disbursement of funds if he works under the direct supervision of a licensed attorney.
Sponsored by: Rep. William R. Janis House: Stricken From House Calendar on 02/08/2008
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Virginia 2008 Regular Session
Credit card theft; person who uses, possesses, etc. card of another without cardholder's consent. [HB-1241]
[Consumer Protection ]
[Crime ]
[Cybersecurity ]
[Data Privacy ]
[Public Safety ]
Credit card theft; venue. Provides that a prosecution for credit card theft may be had in any county or city where a credit card number is used, is attempted to be used, or is possessed with intent to commit credit card forgery or fraud.
Sponsored by: Rep. Brian J. Moran Governor: Acts Of Assembly Chapter Text (chap0797) on 04/14/2008
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Virginia 2008 Regular Session
Payday Loan Act; requires SCC to contract with one or more parties to develop, etc. database. [HB-12]
[Consumer Protection ]
[Finance ]
[Law Enforcement ]
Payday Loan Act. Requires the State Corporation Commission, by January 1, 2009, to certify and contract with one or more third parties to develop, implement, and maintain an Internet-accessible database, and requires payday lenders to query the database prior to making any loan to determine whether the loan is permissible. Licensees are required to pay a database inquiry fee to the database provider. A payday lender is prohibited from making a payday loan to a person if the loan would cause the borrower to have more than one payday loan outstanding
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Sponsored by: Sen. Jennifer L. McClellan Governor: Acts Of Assembly Chapter Text (chap0849) on 04/23/2008
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Virginia 2008 Regular Session
Deed of trust or mortgage; reduces time in which one may enforce. [HB-1133]
[Real Estate ]
Enforcement of deed of trust or mortgage. Reduces the time in which one may enforce a deed of trust or mortgage from 20 years to 10 years.
Sponsored by: Rep. William H. Fralin Governor: Acts Of Assembly Chapter Text (chap0226) on 03/06/2008
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Virginia 2008 Regular Session
Payday Loan Act; requires SCC to contract with one or more parties to develop, etc. database. [HB-1103]
[Consumer Protection ]
[Finance ]
[Technology and Innovation ]
[Data Privacy ]
[Military ]
Payday Loan Act. Requires the State Corporation Commission, by January 1, 2009, to contract with a third party to develop, implement, and maintain an Internet-accessible database, and requires payday lenders to query the database prior to making any loan to determine whether an applicant is ineligible for the loan. The measure also (i) caps the maximum amount of a payday loan at the lesser of 25% of the borrower's gross monthly income or $1,000, or $500 if it is a second payday loan; (ii) requires the lender to keep records of the pay stubs used
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Sponsored by: Rep. Mark D. Sickles House: Left In Commerce And Labor on 02/12/2008
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Virginia 2008 Regular Session
Wet Settlement Act; adds to definition of settlement. [HB-1098]
[Real Estate ]
[Consumer Protection ]
Wet Settlement Act. Provides that a determination by a settlement agent that prerecordation conditions in a real estate purchase contract have been satisfied shall not control the rights and obligations of the parties under the contract.
Sponsored by: Rep. Mark D. Sickles Governor: Acts Of Assembly Chapter Text (chap0514) on 03/17/2008
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Virginia 2008 Regular Session
Mortgage lenders and brokers; licensure and regulations. [HB-1097]
[Finance ]
[Real Estate ]
[Housing ]
[Consumer Protection ]
[Law Enforcement ]
Mortgage Lender and Broker Act. Requires mortgage lenders and brokers required to be licensed under the Mortgage Lender and Broker Act to make a reasonable and good faith determination based on verified and documented information that a borrower has a reasonable ability to repay a nonqualified mortgage loan. The measure prohibits a mortgage lender from compensating a mortgage broker based on the terms of a nonqualified mortgage loan. The fine or penalty that may be imposed by the State Corporation Commission for a violation of either of these provisions
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Sponsored by: Rep. Mark D. Sickles House: Passed By In Commerce And Labor With Letter By Voice Vote on 01/31/2008
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Virginia 2008 Regular Session
Mortgages; requirements for certain. [HB-1093]
[Finance ]
[Real Estate ]
[Housing ]
[Consumer Protection ]
Low-document, no-document and stated income mortgages. Prohibits certain lenders from making a low-document, no-document, or stated-document mortgage loan unless the lender has obtained detailed documentation of all sources of income claimed by the borrower in the loan application, or corroborated the claimed income by independent verification, and determined, that a reasonable creditor would believe at the time the loan is closed that the borrower will be able to make the scheduled payments associated with the loan.
Sponsored by: Rep. Mark D. Sickles House: Continued To 2009 In Commerce And Labor By Voice Vote on 02/07/2008
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Virginia 2008 Regular Session
Mortgage loans; escrowing taxes and insurance. [HB-1091]
[Finance ]
[Real Estate ]
[Housing ]
[Insurance ]
[Consumer Protection ]
Subprime adjustable mortgage loans; escrowing taxes and insurance. Requires certain lenders that make a subprime adjustable rate mortgage loan to a borrower to collect and hold in escrow periodic payments for real estate taxes and insurance premiums.
Sponsored by: Rep. Mark D. Sickles House: Continued To 2009 In Commerce And Labor By Voice Vote on 02/07/2008
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West Virginia 2020 Regular Session
First Time Home Buyer Savings Account Act [HB-4922]
[Housing ]
[Real Estate ]
[Finance ]
[Consumer Protection ]
First Time Home Buyer Savings Account Act
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West Virginia 2020 Regular Session
West Virginia FinTech Regulatory Sandbox Act [HB-4621]
[Finance ]
[Technology and Innovation ]
[Consumer Protection ]
[Economic Development ]
[Small Business ]
West Virginia FinTech Regulatory Sandbox Act
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West Virginia 2020 Regular Session
Relating to definition of "mortgage loan originator" [SB-651]
[Finance ]
[Real Estate ]
[Housing ]
[Consumer Protection ]
Relating to definition of "mortgage loan originator"
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West Virginia 2020 Regular Session
Permitting directors and executive officers of a banking institution to borrow from a banking institution with which he or she is connected [HB-4410]
[Finance ]
[Consumer Protection ]
Permitting directors and executive officers of a banking institution to borrow from a banking institution with which he or she is connected
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West Virginia 2020 Regular Session
Relating to the reproduction of checks and other records [HB-4406]
[Finance ]
Relating to the reproduction of checks and other records
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West Virginia 2020 Regular Session
Creating WV FinTech Regulatory Sandbox Act [SB-514]
[Technology and Innovation ]
[Finance ]
[Consumer Protection ]
[Economic Development ]
Creating WV FinTech Regulatory Sandbox Act