Banking And Finance
West Virginia 2018 Regular Session
Creating the “State Bank of West Virginia” [HB-4280]
[Agriculture ]
[Finance ]
[Economic Development ]
[Small Business ]
The purpose of this bill is to create the “State Bank of West Virginia” that is owned, controlled and operated by the state for the purpose of encouraging and promoting agriculture, commerce and industry.
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Gettr West Virginia 2016 Regular Session
Allowing Economic Development Authority to make loans to certain whitewater outfitters [SB-618]
[Economic Development ]
[Recreation ]
[Small Business ]
[Funding ]
[Grants ]
Allowing Economic Development Authority to make loans to certain whitewater outfitters
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West Virginia 2016 Regular Session
Defining total capital for purposes of calculating state-chartered bank's lending limit [SB-613]
[Finance ]
Defining total capital for purposes of calculating state-chartered bank's lending limit
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West Virginia 2016 Regular Session
Limiting charges secured lender may recover from borrower on default [SB-612]
[Finance ]
[Consumer Protection ]
Limiting charges secured lender may recover from borrower on default
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West Virginia 2016 Regular Session
Adjusting limits on consumer loans for which finance charges can be imposed [SB-547]
[Finance ]
[Consumer Protection ]
Adjusting limits on consumer loans for which finance charges can be imposed
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West Virginia 2016 Regular Session
Allowing lender charge and receive interest on rescindable loan during rescission period [SB-468]
[Finance ]
[Consumer Protection ]
Allowing lender to charge and receive interest on rescindable loan during recission period
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West Virginia 2016 Regular Session
Lengthening maximum term of negotiable certificates of deposit municipal funds can hold [SB-415]
[Finance ]
[Budget and Spending ]
Lengthening maximum term of negotiable certificates of deposit municipal funds can hold
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West Virginia 2016 Regular Session
Allowing permanent exception for mortgage modification or refinancing loan under federal Making Home Affordable Program [SB-311]
[Housing ]
[Real Estate ]
[Finance ]
Allowing permanent exception for mortgage modification or refinancing loan under federal Making Home Affordable program
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West Virginia 2016 Regular Session
Relating to limits on charges a secured lender may recover [HB-4623]
[Consumer Protection ]
[Finance ]
The purpose of this bill is to clarify and expand the list of charges that are recoverable by a secured lender from a consumer borrower upon the borrower’s default.
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West Virginia 2016 Regular Session
Allow a lender to charge and receive interest on a loan that is rescindable by the borrower, during the rescission period [HB-4495]
[Finance ]
[Consumer Protection ]
The purpose of this bill is to allow a lender to charge and receive interest on a loan that is rescindable by the borrower, during the rescission period allowed by the federal Truth in Lending Act.
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West Virginia 2016 Regular Session
Requiring the cashier or executive officer of a banking institution to provide shareholders with the institution’s most recent year-end audited financial statement [HB-4245]
[Finance ]
[Consumer Protection ]
The purpose of this bill is to replace the obsolete requirement of establishing an examining committee and clarify that a bank must employ an outside auditing firm. It also provides for shareholders to be given the bank’s most recent year-end audited statement at their annual meeting.
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West Virginia 2016 Regular Session
Eliminating the need for a public hearing when no objection is filed on an application from an out of state state-chartered credit union to establish a branch in West Virginia [HB-4244]
[Finance ]
[Consumer Protection ]
The purpose of this bill is to eliminate the need for a public hearing to act on an application from an out-of-state credit union when no objection to the application is filed with 10 days after public notice of the application.
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Virginia 2013 Regular Session
Constitutional amendment; maximum lawful rate of interest (first reference). [SJR-44]
[Finance ]
[Consumer Protection ]
Constitutional amendment (first resolution); maximum lawful rate of interest. Caps the maximum lawful rate of interest on any contract for the loan or forbearance of any money, if the money is for use primarily for personal, family, or household purposes, at 36 percent per year. The provisions do not apply to loans made by a depository institution that is subject to licensure by the Commonwealth or another state or by the federal government.
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Virginia 2013 Regular Session
Banking legislation; memorializing Congress to enact legislation to reinstate certain functions. [SJR-273]
[Finance ]
[Investments ]
Banking legislation. Memorializes the Congress of the United States to enact legislation that would reinstate the separation of commercial and investment banking functions that were in effect under the Glass-Steagall Act (Banking Act of 1933). Legislation enacted should be modeled on H.R. 1489 of the 112th Congress.
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Virginia 2013 Regular Session
Mortgage loan originators; conforms Virginia statutory law to federal regulations. [SB-994]
[Finance ]
[Real Estate ]
[Housing ]
[Consumer Protection ]
Mortgage loan originators. Conforms Virginia statutory law to federal regulations implementing the Secure and Fair Enforcement for Mortgage Licensing Act. Changes include (i) expanding the definition of a mortgage loan originator to include an individual who represents to the public that he can or will take an application for, or offer or negotiate the terms of, a residential mortgage loan; (ii) clarifying that when an individual acts as a loan originator in financing the sale of his own residence, he is exempt from licensing requirements; (iii)
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Virginia 2013 Regular Session
Voluntary regulatory self-assessments by banks; privilege. [SB-988]
[Finance ]
[Consumer Protection ]
Voluntary regulatory self-assessments by banks; privilege. Creates a privilege for self-assessment reports of a bank or its holding company, affiliates, and subsidiaries. The privilege makes a self-assessment report not admissible or subject to discovery in civil or administrative proceeding. The privilege shall not apply if it is waived; if the report is disclosed to certain third parties; if it is determined that the privilege is being asserted for a fraudulent purpose or that the report was prepared to avoid disclosure of information in a proceeding
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Virginia 2013 Regular Session
Financial institutions; contract provision requiring amendment or waiver to be in writing, etc. [SB-917]
[Finance ]
[Consumer Protection ]
[Insurance ]
Financial institutions; contract provision requiring amendment or waiver to be in writing. Provides that if any written contract to which a financial institution is a party contains a provision to the effect that no amendment or waiver of any terms or provisions of the contract is valid unless it is in writing, then any amendment or waiver of any terms or provisions of that contract by conduct, course of practice or dealing, or otherwise shall not apply to future rights and obligations under that contract unless it is in writing.
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Virginia 2013 Regular Session
Credit unions, federal; those operating within State to comply with Virginia Small Estate Act. [SB-905]
[Finance ]
[Consumer Protection ]
Credit unions; Virginia Small Estate Act. Provides that federal credit unions operating in the Commonwealth, to the extent allowable under federal law, shall comply with provisions of the Virginia Small Estate Act requiring a person having possession of an asset belonging to a decedent with a value of no more than $50,000 to pay or deliver that asset to the designated successor of the decedent.
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Virginia 2013 Regular Session
Credit unions; limit on authorized investments in certain property, retained earnings. [SB-769]
[Finance ]
[Real Estate ]
[Small Business ]
[Investments ]
Credit unions; retained earnings. Increases the maximum amount of a credit union's funds that may be invested in its real estate, office buildings, equipment, and furnishings, without the prior written authorization of the Commissioner of Financial Institutions. The measure sets the maximum amount of such investments at five percent of the total of members' share accounts and retained earnings. Currently, the cap is five percent of only such share accounts. Finally, the measure defines "retained earnings" as undivided earnings, regular reserve,
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Virginia 2013 Regular Session
Payday lending; repeals provisions authorizing lending in State. [SB-755]
[Finance ]
[Consumer Protection ]
Payday lending. Repeals provisions authorizing payday lending in the Commonwealth.