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Can you summarize WVCS Banking?
West Virginia Code of State Rules > Banking
Short Summary
The provided legal document content consists of various rules and regulations governing different aspects of the banking industry in West Virginia. These documents cover a wide range of topics, including collateral requirements for state-chartered banks, record-keeping requirements for residential mortgage lenders, brokers, and loan originators, regulations and restrictions on regulated consumer lenders, guidelines for lease financing transactions, implementation of the West Virginia Community Reinvestment Act, installation and operation of customer bank communication terminals, procedures for requesting declaratory rulings and conducting contested case hearings, use of off-premise bookkeeping services by financial institutions, regulations for reverse mortgage loans, sale of insurance products by state-chartered banks, regulations under the West Virginia Consumer Credit and Protection Act, valuation of real estate owned by state-chartered banks, notice and treatment of joint accounts in the banking sector. These documents apply to specific entities within the banking industry, such as state-chartered banks, financial institutions, creditors, and customers. However, no specific exemptions or penalties are mentioned in these documents.
Whom does it apply to?
State-chartered banks, parent bank holding companies, residential mortgage lenders, brokers, and loan originators, regulated consumer lenders, financial institutions, creditors, mortgagors, and state-chartered banks engaging in lease financing transactions, bank holding companies, state-chartered banking institutions, domestic subsidiaries of bank holding companies, domestic subsidiaries of state-chartered banks, financial institutions engaging in off-premise bookkeeping services, state-chartered banks engaging in the sale of insurance products, creditors involved in consumer credit sales or consumer loan transactions, financial institutions involved in the acquisition of property through foreclosure or surrender of deed, banks and their customers
What does it govern?
Rules and regulations surrounding various aspects of the banking industry in West Virginia
What are exemptions?
No specific exemptions are mentioned in these documents.
What are the Penalties?
No specific penalties are mentioned in these documents.
Jurisdiction
West Virginia