The proposed bill aims to establish the West Virginia Consumer Privacy Act of 2026, which seeks to protect consumers' personal financial information from being disclosed or sold without their written consent. It defines key terms such as "consumer" and "consumer transaction," and grants consumers the right to "opt-in" to any disclosure or sale of their personal financial information by financial institutions, creditors, and other entities. The bill emphasizes the importance of consumer awareness regarding how their personal information is handled and shared, thereby enhancing their ability to safeguard against identity theft and other deceptive practices.

Additionally, the bill outlines penalties for violations of the act, categorizing them as misdemeanors with fines up to $10,000 or imprisonment for up to one year, with each violation treated as a separate offense. It also provides for the potential award of reasonable attorney's fees to consumers who successfully bring claims under the act, while allowing courts to award fees to defendants if a claim is found to be brought in bad faith. The bill specifies the venues in which consumers can bring civil actions related to violations, ensuring that these provisions take precedence over other state statutes or rules.

Statutes affected:
Introduced Version: 46A-9-101, 46A-9-102, 46A-9-103