Banking And Finance
West Virginia 2024 Regular Session
WV Legal Tender Act [SB-749]
[Finance ]
[Taxes ]
[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: Sen. Robert Karnes
Filed For Introduction on 02/12/2024
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Gettr West Virginia 2024 Regular Session
Transparency and Accountability Act [HB-5369]
[Budget and Spending ]
[Funding ]
[Grants ]
[Taxes ]
The purpose of this bill is to amend the West Virginia Grant Transparency and Accountability Act, among other additions, requiring corporate entities and any government agency, political subdivision, nongovernmental organization, or other organization receiving taxpayer funds greater than $1,000 dollars in any fiscal year from any source to enroll in West Virginia Open Checkbook and fully disclose their revenues and expenditures and to be subject to compliance with the Freedom of Information Act.
Sponsored by: Rep. Henry Dillon
Filed For Introduction on 01/30/2024
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West Virginia 2024 Regular Session
Modifying the method in which credit card providers issue cards to users before the expiration date [HB-5000]
[Consumer Protection ]
[Finance ]
The purpose of this bill is to restrict when credit card companies can send new cards and to stop credit card companies from invalidating unused cards.
Sponsored by: Rep. Geoff Foster
Filed For Introduction on 01/22/2024
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West Virginia 2024 Regular Session
Relating to Securities Restitution Assistance Fund [HB-4985]
[Finance ]
[Consumer Protection ]
[Law Enforcement ]
[Funding ]
[Grants ]
[Public Safety ]
[Crime ]
The purpose of this bill is to authorize victim restitution and creating a restitution assistance fund for victims of securities violations; create the Securities Restitution Assistance Fund; authorize the awarding of restitution in an administrative assessment; provide for the manner and procedures for applications for restitution assistance; provide the manner and procedures for the payment of restitution assistance awards; detail the situations in which restitution is prohibited; provide for subrogation; provide for a lien on recovery and refunds
(continued...)
Sponsored by: Rep. Adrian Criss
With Amendment, Do Pass, But First To Finance on 02/05/2024
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West Virginia 2024 Regular Session
Clarifying the duty of banks to retain and procure records [HB-4837]
[Finance ]
[Consumer Protection ]
[Data Privacy ]
The purpose of this bill is to clarify the duty of banks to retain and procure records and to modify the statute of limitations for actions to enforce a demand to be uniform with the timeframe for property abandonment. This bill also provides a presumption of payment by the bank absent evidence of owner consent to renewal or escheatment to the state.
Sponsored by: Rep. Adrian Criss
Chapter 44, Acts, Regular Session, 2024 on 04/22/2024
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West Virginia 2024 Regular Session
Relating generally to the banking authority of the State Treasurer’s Office [HB-4801]
[Finance ]
[Budget and Spending ]
The purpose of this bill is to set forth prohibited clauses in State banking contracts and to remove the date by which the Public Deposits Program must be operable under the West Virginia Security for Deposits Act to allow discretion for program implementation.
Sponsored by: Rep. Adrian Criss
Chapter 230, Acts, Regular Session, 2024 on 04/22/2024
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West Virginia 2024 Regular Session
Uniform Special Deposits Act [SB-470]
[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. Charles Trump
To House Judiciary on 02/29/2024
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West Virginia 2024 Regular Session
Reorganizing Board of Banking and Financial Institutions, Division of Financial Institutions, and Lending and Credit Rate Board [SB-463]
[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: Sen. Fredrik Nelson
Filed For Introduction on 01/16/2024
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West Virginia 2024 Regular Session
Reorganizing the Board of Banking and Financial Institutions, the Division of Financial Institutions, and the Lending and Credit Rate Board [HB-4780]
[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
Filed For Introduction on 01/16/2024
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West Virginia 2024 Regular Session
Relating generally to banking and contractual authority of State Treasurer’s Office [SB-455]
[Finance ]
The purpose of this bill is to set forth prohibited clauses in State banking contracts and to remove the date by which the Public Deposits Program must be operable under the West Virginia Security for Deposits Act to allow discretion for program implementation.
Sponsored by: Sen. Fredrik Nelson
On 2nd Reading on 02/01/2024
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West Virginia 2024 Regular Session
Modifying duties of banks to retain records [SB-454]
[Finance ]
[Consumer Protection ]
[Property Tax ]
The purpose of this bill is to clarify the duty of banks to retain and procure records and to modify the statute of limitations for actions to enforce a demand to be uniform with the timeframe for property abandonment. This bill also provides a presumption of payment by the bank absent evidence of owner consent to renewal or escheatment to the state.
Sponsored by: Sen. Robert Plymale
Filed For Introduction on 01/15/2024
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West Virginia 2024 Regular Session
Authorizing restitution to victims of securities fraud [SB-418]
[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. Michael Woelfel
Filed For Introduction on 01/12/2024
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West Virginia 2024 Regular Session
Fair Access to Financial Services Act [SB-214]
[Finance ]
[Consumer Protection ]
Fair Access to Financial Services Act
Sponsored by: Sen. Rupert Phillips
Filed For Introduction on 01/11/2024
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West Virginia 2024 Regular Session
Creating the WV Community Development Equity Fund [HB-4371]
[Community Development ]
[Economic Development ]
[Finance ]
[Funding ]
[Grants ]
[Race and Civil Rights ]
[Small Business ]
The purpose of this bill is to state the obligation of the West Virginia Economic Development Authority to provide effective technical and business advisory services to African-Americans and minority-owned and-operated enterprises that are available under the Community Development and Financial Institutions Act of 1994 and the Federal emergency Capital Investment Program (ECIP) established by the Consolidated Appropriations Act of 2021.
Sponsored by: Rep. Sean Hornbuckle
Filed For Introduction on 01/10/2024
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West Virginia 2024 Regular Session
Prohibiting financial institutions from discriminating against firearms businesses [SB-186]
[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 attorneys 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 01/10/2024
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West Virginia 2024 Regular Session
Relating to merging of intrastate banks [HB-4217]
[Finance ]
The purpose of this bill is to establish the process for merging intrastate banks.
Sponsored by: Rep. John Hott
Filed For Introduction on 01/10/2024
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West Virginia 2023 Regular Session
Authorizing restitution to victims of securities fraud [SB-639]
[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. Michael Woelfel
Filed For Introduction on 02/15/2023
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West Virginia 2023 Regular Session
Fair Access to Financial Services Act [SB-637]
[Finance ]
[Consumer Protection ]
The purpose of this bill is to create the "Fair Access to Financial Services Act". The bill provides for a short title. The bill provides for legislative findings. Finally, the bill provides for enactment of the article.Strikethroughs indicate language that would be stricken from a heading or the present law and underscoring indicates new language that would be added.
Sponsored by: Sen. Rupert Phillips
Filed For Introduction on 02/15/2023
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West Virginia 2023 Regular Session
Relating to merging of intrastate banks [HB-3460]
[Finance ]
The purpose of this bill is to establish the process for merging intrastate banks.
Sponsored by: Rep. Steve Westfall
Filed For Introduction on 02/14/2023
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West Virginia 2023 Regular Session
Creating Securities Restitution Assistance Fund for victims of securities violations [SB-576]
[Finance ]
[Consumer Protection ]
[Law Enforcement ]
[Public Safety ]
[Crime ]
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. Robert Plymale
To House Finance on 02/28/2023