Subject Banking and Finance | Current
| State | Bill | Summary/Title | Last Action |
|---|---|---|---|
| VA | HB1807 | Condominium and Property Owners' Association Acts; disclosure of qualification for federal financing. Requires the disclosure in the respective association disclosure packets for purchasers to include a statement indicating any known project approval... [Detail][Text] | 2013-03-18 Governor: Acts of Assembly Chapter text (CHAP0492) |
| VA | SB994 | Mortgage loan originators. Conforms Virginia statutory law to federal regulations implementing the Secure and Fair Enforcement for Mortgage Licensing Act. Changes include (i) expanding the definition of a mortgage loan originator to include an indivi... [Detail][Text] | 2013-03-14 Governor: Acts of Assembly Chapter text (CHAP0380) |
| VA | HB1872 | Online investments; eligible for state tax credits. Specifies that investments transacted via an online general solicitation, online broker, or a funding portal shall be eligible for state tax credits, so long as the investment otherwise meets all re... [Detail][Text] | 2013-03-13 Governor: Acts of Assembly Chapter text (CHAP0289) |
| VA | SB917 | Financial institutions; contract provision requiring amendment or waiver to be in writing. Provides that if any written contract to which a financial institution is a party contains a provision to the effect that no amendment or waiver of any terms o... [Detail][Text] | 2013-03-12 Governor: Acts of Assembly Chapter text (CHAP0142) |
| VA | SB988 | Voluntary regulatory self-assessments by banks; privilege. Creates a privilege for self-assessment reports of a bank or its holding company, affiliates, and subsidiaries. The privilege makes a self-assessment report not admissible or subject to disco... [Detail][Text] | 2013-03-12 Governor: Acts of Assembly Chapter text (CHAP0148) |
| VA | HB1739 | Banks; deposits of securities. Authorizes banks to deposit securities for the purpose of securing deposits of any other state where the bank has a branch office or any agency or political subdivision of such state. Under current law, banks may deposi... [Detail][Text] | 2013-03-12 Governor: Acts of Assembly Chapter text (CHAP0205) |
| VA | HB2162 | Money order sales and money transmission services. Exempts from requirements governing the business of selling money orders or transmitting money (i) any state, or any department, instrumentality, agency, locality, municipality, or political subdivi... [Detail][Text] | 2013-03-12 Governor: Acts of Assembly Chapter text (CHAP0237) |
| VA | HB2104 | Banks; derivative transactions. Provides for the treatment of derivative transactions with regard to the requirement that the total obligations of any person to any bank shall at no time exceed 15 percent of the sum of the capital, surplus, and loan ... [Detail][Text] | 2013-03-06 Governor: Acts of Assembly Chapter text (CHAP0126) |
| VA | SB769 | Credit unions; retained earnings. Increases the maximum amount of a credit union's funds that may be invested in its real estate, office buildings, equipment, and furnishings, without the prior written authorization of the Commissioner of Financial I... [Detail][Text] | 2013-03-05 Governor: Acts of Assembly Chapter text (CHAP0092) |
| VA | HB1573 | Financial institutions; contract provision requiring amendment or waiver to be in writing. Provides that if any written contract to which a financial institution is a party contains a provision to the effect that no amendment or waiver of any terms o... [Detail][Text] | 2013-03-05 Governor: Acts of Assembly Chapter text (CHAP0067) |
| VA | SB905 | Credit unions; Virginia Small Estate Act. Provides that federal credit unions operating in the Commonwealth, to the extent allowable under federal law, shall comply with provisions of the Virginia Small Estate Act requiring a person having possession... [Detail][Text] | 2013-03-05 Governor: Acts of Assembly Chapter text (CHAP0095) |
| VA | HB1594 | Small estates; checks and negotiable instruments. Provides that if the successor to a decedent receives certain small assets in the form of checks, drafts, or other negotiable instruments that are payable to the decedent, the successor may endorse or... [Detail][Text] | 2013-03-05 Governor: Acts of Assembly Chapter text (CHAP0068) |
| VA | HB1610 | Financial institutions; joint accounts. Eliminates the requirement that financial institutions maintain or make available forms for the creation of both joint accounts with survivorship and joint accounts without survivorship. A financial institution... [Detail][Text] | 2013-03-05 Governor: Acts of Assembly Chapter text (CHAP0070) |
| VA | SB1034 | Banks; derivative transactions. Provides for the treatment of derivative transactions with regard to the requirement that the total obligations of any person to any bank shall at no time exceed 15 percent of the sum of the capital, surplus, and loan ... [Detail][Text] | 2013-03-05 Governor: Acts of Assembly Chapter text (CHAP0098) |
| VA | SB1249 | Financial institutions; checks. Repeals the requirement that checks and similar instruments of a financial institution located in the Commonwealth display the month and year in which the account was opened. [Detail][Text] | 2013-03-05 Governor: Acts of Assembly Chapter text (CHAP0102) |
| VA | HB1351 | Credit unions; Virginia Small Estate Act. Provides that federal credit unions operating in the Commonwealth, to the extent allowable under federal law, shall comply with provisions of the Virginia Small Estate Act requiring a person having possession... [Detail][Text] | 2013-02-20 Governor: Acts of Assembly Chapter text (CHAP0007) |
| VA | HB1817 | State Corporation Commission; payments and dishonored payments. Authorizes the State Corporation Commission to accept payment of any amount due by check, credit card, debit card, electronic funds transfer, or other means acceptable to it. The Commiss... [Detail][Text] | 2013-02-20 Governor: Acts of Assembly Chapter text (CHAP0021) |
| VA | HB1803 | Mortgage loan originators. Conforms Virginia statutory law to federal regulations implementing the Secure and Fair Enforcement for Mortgage Licensing Act. Changes include (i) expanding the definition of a mortgage loan originator to include an indivi... [Detail][Text] | 2013-02-20 Governor: Acts of Assembly Chapter text (CHAP0020) |
| VA | HB1686 | Credit unions; retained earnings. Increases the maximum amount of a credit union's funds that may be invested in its real estate, office buildings, equipment, and furnishings, without the prior written authorization of the Commissioner of Financial I... [Detail][Text] | 2013-02-20 Governor: Acts of Assembly Chapter text (CHAP0016) |
| VA | HB2157 | Financial institutions; checks. Repeals the requirement that checks and similar instruments of a financial institution located in the Commonwealth display the month and year in which the account was opened. [Detail][Text] | 2013-02-20 Governor: Acts of Assembly Chapter text (CHAP0030) |
| VA | HB2237 | Voluntary regulatory self-assessments by banks; privilege. Creates a privilege for self-assessment reports of a bank or its holding company, affiliates, and subsidiaries. The privilege makes a self-assessment report not admissible or subject to disco... [Detail][Text] | 2013-02-20 Governor: Acts of Assembly Chapter text (CHAP0032) |
| VA | HJR590 | Study; joint subcommittee to study the feasibility of a metallic-based monetary unit; report. Establishes a joint subcommittee to study whether the Commonwealth should adopt a metallic-based monetary unit to serve as a contingency currency for the Co... [Detail][Text] | 2013-02-19 Rejected by Senate |
| VA | HB1678 | Check cashers; customer identification; civil penalty. Requires a person conducting business as a check casher to make a copy of each item cashed and either make a copy of the customer's valid identification document or obtain the customer's thumbpri... [Detail][Text] | 2013-02-05 |
| VA | HJR600 | Memorializing Congress to enact legislation reinstating the separation of commercial banking and investment banking. Expresses the sense of the General Assembly in support of federal legislation, such as the Return to Prudent Banking Act of 2011, tha... [Detail][Text] | 2013-02-05 |
| VA | HB2006 | Subordinate mortgages. Provides that a subordinate mortgage retains its subordinate status upon the refinancing of the primary mortgage if the principal amount secured by the refinance mortgage does not exceed the greater of the outstanding principal... [Detail][Text] | 2013-02-05 |
| VA | HB1986 | Open-end credit plan loans. Establishes requirements for open-end credit plan loans, which are revolving loans made under an open-end credit or similar plan under which a finance charge is imposed only if the obligor fails to repay the loan in full p... [Detail][Text] | 2013-02-05 |
| VA | HB1977 | Open-end credit plans. Prohibits anyone other than the seller of goods to be used for personal, family, or household purposes from extending credit under an open-end plan at interest rates that exceed the legal rate of interest. To extend credit unde... [Detail][Text] | 2013-02-05 |
| VA | HB2323 | Local limitations as to number of certain businesses. Provides that a locality may by ordinance reasonably limit the number of motor vehicle title loan businesses, payday lenders, check cashers, and precious metals dealers that may be operated at any... [Detail][Text] | 2013-02-05 |
| VA | SJR273 | Banking legislation. Memorializes the Congress of the United States to enact legislation that would reinstate the separation of commercial and investment banking functions that were in effect under the Glass-Steagall Act (Banking Act of 1933). Legisl... [Detail][Text] | 2013-02-01 Passed by indefinitely in Rules by voice vote |
| VA | HB1454 | Safe deposit boxes. Requires the bank or other entity renting a safe deposit box to permit limited access to the box by the deceased lessee's spouse, next of kin, guardian, conservator, agent under a power of attorney, or agent in an advance medical ... [Detail][Text] | 2013-01-24 Tabled in Commerce and Labor by voice vote |
| VA | HB1359 | Consumer finance companies; rate of interest. Adjusts the caps on the annual rate of interest that a consumer finance company may charge on loans. This measure allows a consumer finance company to charge interest at a rate not exceeding 78 percent an... [Detail][Text] | 2013-01-22 Tabled in Commerce and Labor by voice vote |
| VA | HB1613 | State depositories; exempt deposits. Provides that the Virginia Security for Public Deposits Act does not apply to deposits made by any public depositor in out-of-state financial institutions related to escrow or trust agreements or custody agreement... [Detail][Text] | 2013-01-17 Tabled in Commerce and Labor by voice vote |
| VA | SB741 | Payday loans; permitted interest. Repeals provisions of the Payday Loan Act that authorize lenders to charge a loan fee or verification fee, thereby limiting permissible charges on payday loans to simple interest at a maximum annual rate of 36 percen... [Detail][Text] | 2013-01-14 Failed to report (defeated) in Commerce and Labor (4-Y 11-N) |
| VA | SB755 | Payday lending. Repeals provisions authorizing payday lending in the Commonwealth. [Detail][Text] | 2013-01-14 Stricken at request of Patron in Commerce and Labor (12-Y 0-N) |
| VA | SJR44 | Constitutional amendment (first resolution); maximum lawful rate of interest. Caps the maximum lawful rate of interest on any contract for the loan or forbearance of any money, if the money is for use primarily for personal, family, or household purp... [Detail][Text] | 2012-11-26 Passed by indefinitely in Privileges and Elections (8-Y 2-N) |
