merchant911.org -- helping Merchants

MERCHANT 911 PRESS RELEASE ARCHIVES

February 2004

WV Senate Bill 34 Promises to provide Boom Times to WV Economy --- Wednesday, February 25, 2004

For a long time merchants and consumers have been searching for a way to get credit card issuing banks to help in the investigation and charging of criminals. West Virginia has found the answer in the form of Senate Bill 34. Bill 34 provides monetary encouragement to banks to pursue criminals - something they currently refuse to do - allowing fraud criminals free to strike again and again.

Many mail order companies that deal in "Card Not Present" sales have expressed interest in moving to West Virginia to get the protection this bill will afford should it pass. It is estimated that within 3 years of the passage of Bill 34, e-tailers moving to West Virginia could be adding $5 billion in annual sales to the West Virginia economy. Additionally the same e-tailers would provide close to 30,000 jobs in the state, and more support industry jobs would need to be created in the construction, freight transportation, and banking industries in the state to handle the upswing in commerce.

The good business climate created by the bill, coupled with West Virginia’s central location on the east coast as shipping hub and low cost of living, could increase profits for e-commerce companies located in the state, giving them the edge against their competitors.

Text of WV Senate Bill 34

Back to Merchant 911 Alerts