SB 78
Prohibiting financial institutions from discriminating against firearms businesses
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- Passed Senate
- Passed House of Delegates
- To Governor
- Became Law
Bill overview
This bill prohibits financial institutions in West Virginia, such as banks and payment processors, from discriminating against businesses involved in the firearms industry, including manufacturers, retailers, and shooting ranges. It defines key terms related to firearms and financial institutions, establishes civil penalties for discrimination, and allows injured parties to sue for damages and injunctive relief. The Attorney General also has the authority to take legal action and seek penalties.
Key provisions
- Defines key terms including ‘firearm,’ ‘firearm accessory,’ ‘financial institution,’ and ‘discrimination’ in the context of firearms businesses.
- Prohibits financial institutions from refusing to provide services or otherwise discriminating against firearm entities that support lawful firearms commerce.
- Establishes a process for individuals to file civil lawsuits against financial institutions found to have discriminated.
- Allows the Attorney General to file civil actions and seek declaratory judgments, injunctions, and civil penalties (up to $20,000 per violation).
- Provides for attorney fees and costs to be awarded to successful plaintiffs in civil actions.
- Sets a two-year statute of limitations for filing civil actions.
- Authorizes the Governor to terminate state business relationships with financial institutions found to have violated the law.
- Includes an exception for financial institutions with written policies prohibiting discrimination against firearm entities.
Who is affected
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