FISCAL NOTE
FUND(S):
3041
Sources of Revenue:
Special Fund
Legislation creates:
Neither Program nor Fund
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
Passage of this bill would have no impact on either the costs or revenues of state government.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2009
Increase/Decrease
(use"-") |
2010
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):
Memorandum
This bill authorizes regulated consumer lenders (RCLs) to offer membership plans to their customers and requires any enrollment authorizations to be filed with the Commissioner of Banking. There are only 8 regulated consumer lenders currently licensed in this state. Even if every RCL elected to offer such plans, the Division of Banking is confident that any review of the enrollment authorizations could be accomplished with current available resources. No additional fees are provided for in the bill and none are needed to administer the bill if it becomes law.
Person submitting Fiscal Note: Robert Lamont
Email Address: blamont@wvdob.org