Bill > HB190

This bill directs the Office of the Attorney General to establish a work group to examine existing laws and practices, specifically the Electronic Funds Transfers Act (EFTA) and its accompanying regulations like Regulation E, which govern electronic money transfers, and to analyze reports of fraud involving these transfers. The goal is to develop recommendations to help individuals in Virginia better prevent and reduce losses from various scams, such as impersonation schemes, phone and online fraud, and other deceptive tactics designed to trick people into financial fraud, going beyond the current EFTA requirements. This work group will consist of representatives from the Attorney General's office, the State Corporation Commission's Bureau of Financial Institutions, financial institutions like banks and credit unions, consumer advocacy organizations, and other relevant parties, and the Office of the Attorney General must report the work group's findings and suggestions to the relevant legislative committees by December 1, 2026.

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https://lis.virginia.gov/bill-details/20261/HB190