Laws & Regulations
An administrative letter is the method by which the Commissioner of Financial Institutions formally communicates with entities regulated by the Bureau of Financial Institutions. Administrative Letters are not regulations or laws, but are positions that the Bureau of Financial Institutions has taken on issues affecting financial institutions. Administrative Letters are often issued after the Bureau of Financial Institutions identifies or receives a number of questions or concerns about a particular issue, regulation or law. Administrative Letters provide helpful direction, guidance, instructions, interpretations, or general information.
Administrative Letters issued by the Bureau of Financial Institutions
Regulations are administrative rules. The Virginia General Assembly, through the legislative process, imparts responsibilities upon the Commission, which include the promulgation of its own rules and regulations to help it carry out its statutory responsibilities. Title 10 of the Virginia Administrative Code contains Bureau of Financial Institutions regulations.
Statutes or Laws
Virginia statutes and laws are enacted through the legislative representative process by the Virginia General Assembly. Virginia banking and finance statutes and laws are found in Title 6.2 of the Code of Virginia.
The Code of Virginia and the Virginia Administrative Code are available on-line through Legislative Information Systems (LIS). You may also place an order for Financial Institutions Laws and Related Laws of Virginia from the LexisNexis Group.