Virginia · 2025 Regular Session · Bill
HB 343: Financial institutions; regulation of money transmitters, penalty.
In committee Official data
- Introduced
- In committee
- Passed one chamber
- Passed both chambers
- Enacted
Last official action: ·Record last updated:
Plain-language summary
HB 343 is a bill introduced in the Virginia House on January 5, 2024. According to its official title, it concerns: Financial institutions; regulation of money transmitters, penalty. Primary sponsor: Josh Cole (Democratic). Most recent recorded action (November 18, 2024): Left in Labor and Commerce.
Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written
Official summary
Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.
Financial institutions; regulation of money transmitters; penalty. Replaces existing state law regulating money transmitters with comprehensive provisions aimed at standardizing the regulation of money transmitters across the 50 states. The bill includes provisions for the licensure of money transmitters, supervision and implementation by the State Corporation Commission, acquisition of control of a licensee, mandatory disclosures, reporting and records requirements, authorized delegates, mandatory disclosures, prudential standards, and enforcement.
Sponsors
Sponsors by party (alphabetical): Democratic 1
| Name | Role | Party | Chamber | District |
|---|---|---|---|---|
| Josh Cole | Primary sponsor | Democratic | House | 65 |
“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.
Recent official actions
- Left in Labor and Commerce
- Continued to 2025 in Labor and Commerce (Voice Vote)
- Subcommittee recommends continuing to 2025 (Voice Vote)
- Impact statement from SCC (HB343)
- Assigned L & C sub: Subcommittee #1
- Referred to Committee on Labor and Commerce
- Prefiled and ordered printed; offered 01/10/24 24101753D