                                 CODE OF VIRGINIA

(EFFECTIVE JULY 1, 2026) NETWORKED SUPERVISION (§ 6.2-1927)

A. To efficiently and effectively administer and enforce this chapter and to
minimize regulatory burden, the Commission is authorized and encouraged to
participate in multistate supervisory processes established between states and
coordinated through the Conference of State Bank Supervisors, the Money
Transmitter Regulators Association, and affiliates and successors thereof for
all licensees that hold licenses in the Commonwealth and other states. As a
participant in multistate supervision, the Commission may:

   1. Cooperate, coordinate, and share information with other state and federal
   regulators;

   2. Enter into written cooperation, coordination, or information-sharing
   contracts or agreements with organizations whose membership is made up of
   state or federal governmental agencies; and

   3. Cooperate, coordinate, and share information with organizations whose
   membership is made up of state or federal governmental agencies, provided that
   the organizations agree in writing to maintain the confidentiality and
   security of the shared information.

B. The Commission shall not waive, and nothing in this section shall constitute
a waiver of, the Commission&#8217;s authority to conduct an examination or
investigation or otherwise take independent action authorized by this chapter or
a regulation adopted or order issued under this chapter to enforce compliance
with applicable state or federal law.

C. A joint examination or investigation, or acceptance of an examination or
investigation report, shall not waive an examination assessment provided for in
this chapter.

HISTORY: 2025, c. 214.