Bill
Bill > HB343
summary
Introduced
01/05/2024
01/05/2024
In Committee
01/05/2024
01/05/2024
Crossed Over
Passed
Dead
04/11/2024
04/11/2024
Introduced Session
2024 Regular Session
Bill 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.
AI Summary
This bill 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, prudential standards, and enforcement.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Continued to 2025 in Labor and Commerce by voice vote (on 01/18/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://lis.virginia.gov/cgi-bin/legp604.exe?241+sum+HB343 |
| BillText | https://lis.virginia.gov/cgi-bin/legp604.exe?241+ful+CHAP0441+hil |
| Fiscal Note/Analysis - House: Prefiled and ordered printed; offe | https://lis.virginia.gov/cgi-bin/legp604.exe?241+oth+HB343F171+PDF |
| BillText | https://lis.virginia.gov/cgi-bin/legp604.exe?241+ful+HB343+hil |
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