summary
Introduced
01/14/2026
01/14/2026
In Committee
01/14/2026
01/14/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
The purpose of this bill is to preclude the establishment of a branch bank or the acquisition or merger of a bank or a credit union by a bank or credit union unless they are insured by the Federal Deposit Insurance Corporation.
AI Summary
This bill mandates that any bank or credit union seeking to establish a branch bank or acquire or merge with another bank or credit union must be insured by the Federal Deposit Insurance Corporation (FDIC), a government agency that insures deposits in banks and savings associations. This requirement ensures that customer deposits are protected up to a certain limit in the event of a bank failure, thereby promoting financial stability and consumer confidence within the state's financial institutions.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
To Banking and Insurance (on 01/14/2026)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=32&year=2026&sessiontype=RS&btype=bill |
| BillText | http://www.wvlegislature.gov/Bill_Status/bills_text.cfm?billdoc=sb32%20intr.htm&yr=2026&sesstype=RS&i=32 |
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