# Virginia HB343: Financial institutions; regulation of money transmitters, penalty.

Virginia HB343, Financial institutions; regulation of money transmitters, penalty., is a 2025 Regular Session House bill sponsored by Joshua G. Cole (Democratic); status failed, last action 2024-11-18 (Left in Labor and Commerce) (as of 2026-10-16).

- Canonical: https://policyrisk.com/state-bill/VA-HB343-2025
- As of: 2026-10-16
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Virginia HB343
- State: Virginia
- Session: 2025 Regular Session
- Title: Financial institutions; regulation of money transmitters, penalty.
- Status: failed
- Chamber: House
- Introduced: 2024-01-05
- Last action: 2024-11-18, Left in Labor and Commerce
- Sponsor: Joshua G. Cole (Democratic)
- Cosponsors: 0
- Subjects: Labor and Commerce
- Touches household money: no
- Roll calls: 2 (0 yes, 0 no in all)
- Economic provisions PRIA read: 0

## 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.

## Bill overview

No economic impacts identified for this bill.

## Sponsors and cosponsors

- Sponsor: Joshua G. Cole (Democratic), House

## Roll call votes

| Date | Chamber | Motion | Result | Yes | No | Other |
| --- | --- | --- | --- | --- | --- | --- |
| 2024-01-18 | House | Continued to 2025 in Labor and Commerce (Voice Vote) | pass | 0 | 0 |   |
| 2024-01-16 | House | Subcommittee recommends continuing to 2025 (Voice Vote) | pass | 0 | 0 |   |

## Actions (7)

- 2024-11-18: Left in Labor and Commerce (House)
- 2024-01-18: Continued to 2025 in Labor and Commerce (Voice Vote) (House)
- 2024-01-16: Subcommittee recommends continuing to 2025 (Voice Vote) (House)
- 2024-01-16: Impact statement from SCC (HB343) (House)
- 2024-01-15: Assigned L & C sub: Subcommittee #1 (House)
- 2024-01-05: Referred to Committee on Labor and Commerce (House)
- 2024-01-05: Prefiled and ordered printed; offered 01/10/24 24101753D (House)

## Bill text

- Introduced, 2024-01-12: [HTML](https://lis.virginia.gov/bill-details/20251/HB343)

## Related bills

- HR671: Commending JR's Auto Care. (adopted)
- SB941: Robbery; use of air or gas operated weapon, etc., penalty. (failed)
- HB1746: Public safety officer; definition. (failed)
- HB1600: Budget Bill. (failed)
- SB1449: Data centers; site assessment for high energy use facility. (failed)
- HB1609: Essential health benefits benchmark plan; Commission to consider coverage for infertility treatment. (to governor)

## Sources
- [Introduced (HTML)](https://lis.virginia.gov/bill-details/20251/HB343)

## Related
- [HR671: Commending JR's Auto Care.](https://policyrisk.com/state-bill/VA-HR671-2025)
- [SB941: Robbery; use of air or gas operated weapon, etc., penalty.](https://policyrisk.com/state-bill/VA-SB941-2025)
- [HB1746: Public safety officer; definition.](https://policyrisk.com/state-bill/VA-HB1746-2025)
- [HB1600: Budget Bill.](https://policyrisk.com/state-bill/VA-HB1600-2025)
- [SB1449: Data centers; site assessment for high energy use facility.](https://policyrisk.com/state-bill/VA-SB1449-2025)
- [HB1609: Essential health benefits benchmark plan; Commission to consider coverage for i…](https://policyrisk.com/state-bill/VA-HB1609-2025)
- [Virginia bills](https://policyrisk.com/states/virginia/bills)
- [Virginia state hub](https://policyrisk.com/states/virginia)
- [All state legislation](https://policyrisk.com/state-bills)

Source: PRIA, https://policyrisk.com/state-bill/VA-HB343-2025 (as of 2026-10-16).