Bill > HB4240

This bill authorizes the Commissioner of Financial Institutions to create and implement a formal legislative rule, specifically identified as 106 CSR 21, for the Fintech Regulatory Sandbox Program. A "legislative rule" is a regulation created by an agency that has the force of law, and the "Fintech Regulatory Sandbox Program" is a framework designed to allow companies to test innovative financial technology (fintech) products and services in a controlled environment with regulatory oversight, providing a pathway for these innovations to be evaluated and potentially adopted. This authorization is granted under the existing authority provided by section 31A-8G-3 of the West Virginia code, and the bill confirms the validity of the rule filed on February 3, 2025.

Budget and Finance

http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=4240&year=2026&sessiontype=RS&btype=bill