VirginiaHB3432025 Regular SessionHouse

Financial institutions; regulation of money transmitters, penalty.

Sponsored By: Joshua G. Cole (Democratic)

Failed

Summary

Financial institutions; regulation of money transmitters; penalty. Replaces existing state law regulating money transmitters with comprehensive provisions aimed at standardizing the regulation of money transmitters across the 50 states. The bill includes provisions for the licensure of money transmitters, supervision and implementation by the State Corporation Commission, acquisition of control of a licensee, mandatory disclosures, reporting and records requirements, authorized delegates, mandatory disclosures, prudential standards, and enforcement.

Labor and Commerce

Personalized for You

How does this bill affect your finances?

Personalize government policy and PRIA will tell you what this bill means for your household, plus every other piece of legislation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.

Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Joshua G. Cole

    Democratic • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 0 • No: 0

House vote • 1/18/2024

Continued to 2025 in Labor and Commerce (Voice Vote)

Yes: 0 • No: 0

House vote • 1/16/2024

Subcommittee recommends continuing to 2025 (Voice Vote)

Yes: 0 • No: 0

Actions Timeline

  1. Left in Labor and Commerce

    11/18/2024House
  2. Continued to 2025 in Labor and Commerce (Voice Vote)

    1/18/2024House
  3. Subcommittee recommends continuing to 2025 (Voice Vote)

    1/16/2024House
  4. Impact statement from SCC (HB343)

    1/16/2024House
  5. Assigned L & C sub: Subcommittee #1

    1/15/2024House
  6. Referred to Committee on Labor and Commerce

    1/5/2024House
  7. Prefiled and ordered printed; offered 01/10/24 24101753D

    1/5/2024House

Bill Text

  • Introduced

    1/12/2024

Related Bills

Back to State Legislation