HB 3269
Reorganizing the Board of Banking and Financial Institutions, the Division of Financial Institutions, and the Lending and Credit Rate Board
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Sign in to take action- Introduced
- Passed House of Delegates
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill significantly reorganizes the state’s financial regulatory structure. It creates independent divisions and boards within the executive branch, specifically separating the Board of Banking and Financial Institutions, the Division of Financial Institutions, and the Lending and Credit Rate Board from the Department of Revenue. The bill establishes a merit-based personnel system for the Division of Financial Institutions, exempts it from the classified service system, and outlines requirements for the commissioner’s authority and oversight. It also includes provisions for reimbursement of travel expenses and uniform code references.
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