West Virginia payments and fintech laws

What it would do: Brings virtual currency kiosks within money transmission licensure requirements, establishes disclosure and receipt requirements for kiosk customers, sets daily transaction limits of $1,000 for new customers and $2,500 for existing customers, and requires compliance by November 1, 2026 for licensure beginning January 1, 2027.

What it would do: Authorizes West Virginia to use qualifying stable tokens fully backed by US dollars for voluntary payments to state vendors and contractors, with the State Treasurer maintaining an approved list and providing annual reporting to the Legislature.

What it would do: Prohibits landlords from charging convenience fees to tenants for rental payments, except when the landlord accepts a form of payment that does not require a convenience fee.

What it would do: Requires payment card networks to exclude state and local taxes from interchange fee calculations for electronic payment transactions, either by deducting taxes at settlement or rebating proportionate interchange fees, and imposes civil penalties of up to $1,000 per violation for non-compliance.

What it would do: Authorizes the Commissioner of Financial Institutions to promulgate a legislative rule relating to the Fintech Regulatory Sandbox Program, as filed in the State Register on February 3, 2025.

What it would do: Requires retail mercantile establishments and other businesses in West Virginia to accept United States currency as payment and prohibits discrimination against cash buyers, with exemptions authorized by the West Virginia Treasurer's Office. Violations are punishable by fines not exceeding $500.

What it would do: Prohibits merchants from charging fees to cash checks issued by state or federal governmental entities, while permitting fees up to the greater of $1 or one percent of face value for other checks.

What it would do: Authorizes the legislative rule filed February 3, 2025, by the Commissioner of Financial Institutions relating to the Fintech Regulatory Sandbox Program (106 CSR 21) under authority of §31A-8G-3.

What it would do: Prohibits financial institutions from discriminating against firearm entities engaged in lawful commerce in firearms, accessories, or ammunition, and authorizes civil actions with damages up to treble damages, punitive damages, injunctive relief, and attorney fees, with a two-year statute of limitations.

What it would do: Prohibits landlords from charging convenience fees to tenants for rental payments, except that landlords who accept a form of payment that does not require a convenience fee are not subject to this prohibition.

What it would do: Requires retail mercantile establishments and other businesses in West Virginia to accept United States currency as payment and prohibits discrimination against cash buyers, with exceptions for remote transactions and exemptions authorized by the West Virginia Treasurer's Office. Violations are punishable by fines up to $500.