HB 4238
Relating to authorizing the Division of Financial Institutions to promulgate a legislative rule relating to the installation, operation, and sharing of customer bank communication terminals and the utilization of nonexclusive access interchange system.
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Sign in to take action- Introduced
- Passed House of Delegates
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill authorizes the West Virginia Division of Financial Institutions to create a detailed rule outlining how banks can install, operate, and share communication terminals used by customers. It also addresses the use of nonexclusive access interchange systems, which are networks used for processing credit and debit card transactions. The goal is to provide clearer guidelines and regulations for these banking practices within the state.
Key provisions
- Authorizes the Division of Financial Institutions to develop a legislative rule.
- Covers the installation of customer bank communication terminals.
- Addresses the operation of these terminals.
- Regulates the sharing of customer bank communication terminals.
- Specifies rules for utilizing nonexclusive access interchange systems.
Who is affected
- Banks
- Customers of banks
- West Virginia Division of Financial Institutions
Sponsors
Official sponsors from legislative records.
Primary sponsor
D. Smith
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