FISCAL NOTE
Date Requested: January 21, 2026
Time Requested: 04:58 PM |
| Agency: |
Financial Institutions, West Virginia Division of |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 2014 |
Introduced |
SB569 |
|
|---|
| CBD Subject: |
Banking and Finance |
|---|
|
FUND(S):
None
Sources of Revenue:
Special Fund None
Legislation creates:
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
Senate Bill 569 will likely have no impact on the revenues and expenses of state government. It does create a right for the Attorney General or other competent official to pursue remedies under the West Virginia unfair and deceptive acts or practices law (UDAP) against an entity believed to be engaging in a discriminatory practice as described in the bill. No fiscal impact is expected for the Division of Financial Institutions.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2026
Increase/Decrease
(use"-") |
2027
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
0 |
0 |
0 |
| Personal Services |
0 |
0 |
0 |
| Current Expenses |
0 |
0 |
0 |
| Repairs and Alterations |
0 |
0 |
0 |
| Assets |
0 |
0 |
0 |
| Other |
0 |
0 |
0 |
| 2. Estimated Total Revenues |
0 |
0 |
0 |
Explanation of above estimates (including long-range effect):
The bill creates no impact on the revenues and expenses of state government. The Attorney General or another competent official may be impacted depending on whether they decide to pursue remedies in accordance with UDAP for violations of this law.
Memorandum
The bill prohibits certain activities that would be deemed discriminatory if engaged in by certain financial institutions as defined in the law. The Attorney General's office or other competent official may incur some costs should they choose to pursue remedies for violations of UDAP. The bill does not create any impact on the revenues or expenses of the Division of Financial Institutions.
Person submitting Fiscal Note: Kathy Lawson
Email Address: klawson@wvdob.org