Finance Commission Meeting - June 21, 2019

 
Packet
 
 
Minutes
 

 
Audio

Location:
Finance Commission Building | William F. Aldridge Hearing Room,
2601 N. Lamar Blvd. | Austin, Texas 78705

Time:
8:00 a.m.

Or Upon Adjournment of the Audit Committee Meeting

Section A.3 will take up agenda items A1, C2-C5 with NO DISCUSSION as notated in bold and italicized

Public comment on any agenda item or issue under the jurisdiction of the Finance Commission agencies is allowed unless the comment is in reference to a rule proposal for which the public comment period has ended. However, upon majority vote of the Commission, public comment may be allowed related to final rule adoption.

A. Finance Commission Matters

  1. Review and Approval of the Minutes of the April 12, 2019 Finance Commission Meetings
     
  2. General Public Comment
     
  3. Consent Agenda
     
  4. Finance Commission Operations
     
  5. Audit Committee Report
     
    1. Discussion of and Possible Vote to Recommend that the Finance Commission Take Action on the Agencies 2019 Second Quarter Financial Statements
      1. Office of Consumer Credit Commissioner
      2. Texas Department of Banking
      3. Department of Savings and Mortgage Lending
         
    2. Discussion of and Possible Vote to Recommend that the Finance Commission Take Action on the Texas Financial Education Endowment (TFEE) 2020-2021 Funding Priorities
       
    3. Discussion of and Possible Vote to Recommend that the Finance Commission Take Action on the Appointment of a New Grant Advisory Committee Member
       
    4. Discussion of and Possible Vote to Recommend that the Finance Commission Take Action to Approve an Amount for the Upcoming 2020-21 Grant Cycle for the Texas Financial Education Endowment (TFEE)
       
  6. Discussion of and Possible Vote to Take Action on Sunset Recommendation 2.6 – “Direct the Finance Commission to minimize duplication of agency functions and promote more cost efficient administration of the finance agencies.
     
  7. Discussion of and Possible Vote to Take Action Regarding Personnel Matters Pursuant to   §551.074, Texas Government Code: Deliberations with Respect to the Duties and Compensation of a Person Holding the Position of Executive Director of the Finance Commission, Deliberations with Respect to the Duties and Compensation of Persons Holding the Position of Agency Commissioner Positions, and Other Staff
     
  8. Discussion of and Possible Vote to Take Action Regarding Facility Planning and Real Property Matters Pursuant to §551.072, Texas Government Code: Deliberations Regarding the Purchase, Exchange, Lease or Value of Real Property
     
  9. Discussion and Consultation with Attorney and Possible Vote to Take Action Pursuant to §551.071, Texas Government Code, for the purpose of seeking the advice or attorney-client privileged communications from our attorneys, including matters related to the potential financial exposure of the Finance Commission Agencies and their officers and the Finance Commission and its officers and including matters of pending and contemplated litigation
     
  10. Discussion of and Consultation on Security Audit, possible issue related to confidential or sensitive information, security breach audit and assessment, or security assessments or deployment related to information resources technology as authorized by Tex. Govt. Code Secs. 551.076 and 551.089

B. Office of Consumer Credit Commissioner

  1. Industry Status and Departmental Operations: a) Consumer Protection and Assistance Division Activities; b) Licensing Division Activities; c) Administration Division Activities; d) Financial Division Activities; e) Legal Division Activities; and f) Legislative Activities
     
  2. Discussion of and Possible Vote to Take Action on the Proposal and Publication for Comment of Amendments, New Rules, and a Repeal in 7 TAC, Part 1, Chapter 2, and Part 5, Chapters 82, 83, 84, 85, 86, 87, 88, and 89, Concerning Licensing, Registration, Administration, Complaints, and Appeals
     
  3. Discussion of and Possible Vote to Take Action on the Proposal and Publication for Comment of Amendments to 7 TAC, Chapter 85, Subchapter A, Concerning Rules of Operation for Pawnshops  
     
  4. Discussion of and Possible Vote to Take Action on Anticipated and Pending Litigation

     

    Texas Office of Consumer Credit Commissioner v. Tim McMahan d/b/a Advantage Auto; Cause No. D-1-GN-17-005451, in the 98th District Court of Travis County, Texas

    Ernest Polk v. Texas Office of Consumer Credit Commissioner; Cause No. 2018-04375, in the 281st Judicial District Court of Harris County, Texas

    State of Texas v. Cash Auto Sales, Inc. f/k/a Larry Lake d/b/a Cash Auto Sales and VIP Finance of Texas, Inc. f/k/a Travis Lake d/b/a VIP Finance; Cause No. 05-18-00198-CV, in the Court of Appeals for the Fifth Judicial District, Dallas, Texas
     

C. Texas Department of Banking

  1. Industry Status and Departmental Operations: a) Current Issues Affecting Department’s Regulated Entities; b) Bank and Trust Division Activities; c) Corporate Division Activities; d) Special Audits Division Activities; e) Administrative, Staffing and Fiscal Division Activities; f) Strategic Support Division Activities including Consumer Complaint Data; g) Legal Division Activities including Enforcement Activity and Gift Reporting; and h) Legislative Activities
     
  2. Discussion of and Possible Vote to Take Action on the Re-adoption of 7 TAC, Part 1, Chapter 9, Concerning Rules of Procedure for Contested Case Hearings, Appeals, and Rulemakings, Resulting from Rule Review
     
  3. Discussion of and Possible Vote to Take Action on the Re-adoption of 7 TAC, Part 1, Chapter 10, Concerning Contract Procedures, Resulting from Rule Review
     
  4. Discussion of and Possible Vote to Take Action on the Re-adoption of 7 TAC, Part 2, Chapter 12, Concerning Loans and Investments, Resulting from Rule Review
     
  5. Discussion of and Possible Vote to Take Action on the Re-adoption of 7 TAC, Part 2, Chapter 25, Concerning Prepaid Funeral Contracts, Resulting from Rule Review
     
  6. Discussion of and Possible Vote to Take Action on the Proposal and Publication for Comment of New 7 TAC, Part 2, Chapter 11, §§11.10, 11.11 and 11.12 Concerning Complaint Handling Procedures
     
  7. Discussion of and Possible Vote to Take Action on the Proposal and Publication for Comment of New 7 TAC, Part 1, Chapter 3, §3.24 Concerning Notification in Event of Cybersecurity Breach of State Banks
     
  8. Discussion of and Possible Vote to Take Action on the Proposal and Publication for Comment of New 7 TAC, Part 2, Chapter 17, §17.5 Concerning Notification in Event of Cybersecurity Breach of State Trust Companies
     
  9. Discussion of and Possible Vote to Take Action on the Proposal and Publication for Comment of New 7 TAC, Part 2, Chapter 33, §33.30 Concerning Notification in Event of Cybersecurity Breach of Money Services Businesses
     
  10. Discussion of and Possible Vote to Take Action on the Proposal and Publication for Comment of Amendments to 7 TAC, Part 2, Chapter 25, §§25.13, 25.23, and 25.24 Concerning Assessments on Prepaid Funeral Contract Sellers
     
  11. Discussion of and Possible Vote to Take Action on the Proposal and Publication for Comment of Amendments to 7 TAC, Part 2, Chapter 26, 26.1 Concerning Assessments on Perpetual Care Cemeteries
     
  12. Discussion and Possible Vote to Take Action on the Proposal and Publication for Comment of Repeal of 7 TAC, Part 2, Chapter 24, §§24.1 – 24.4 Concerning Cemetery Brokers
     
  13. Discussion of and Possible Vote to Take Action on Anticipated and Pending Litigation

D. Department of Savings and Mortgage Lending

  1. Industry Status and Departmental Operations: a) Current Issues Affecting Department’s Regulated Entities; b) Bank and Trust Division Activities; c) Corporate Division Activities; d) Special Audits Division Activities; e) Administrative, Staffing and Fiscal Division Activities; f) Strategic Support Division Activities including Consumer Complaint Data; g) Legal Division Activities including Enforcement Activity and Gift Reporting; and h) Legislative Activities
     
  2. Industry Status and Departmental Operations – Mortgage Lending Activity: a) Residential Mortgage Loan Originators; b) Mortgage Examination; and c) Consumer Complaints
     
  3. Fiscal and Departmental Operations: a) Funding Status/Audits/Financial Reporting; and b) Staffing
     
  4. Legal Activity: a) Enforcement; b) Gift Reporting; and c) Legislative Activities
     
  5. Discussion of and Possible Vote to Take Action on the Proposal and Publication for Comment of New 7 TAC, Part 4, Chapter 52 as found in the following sections: §52.10 Definitions, §52.11 Complaint Processing, §52.12 Complaint Resolution and Disposition, §52.13 Complaint Review and Reporting
     
  6. Discussion of and Possible Vote to Take Action on the Proposal and Publication for Comment of Amendments to 7 TAC, Part 4, Chapter 61, §61.1, Concerning Hearings Officer
     
  7. Discussion of and Possible Vote to Take Action on the Proposal and Publication for Comment of Amendments to 7 TAC, Part 4, Chapter 64, §64.10, Concerning Savings and Loan Association Complaint Notices
     
  8. Discussion of and Possible Vote to Take Action on the Proposal and Publication for Comment of Amendments to 7 TAC, Part 4, Chapter 76, §76.122, Concerning Hearings Officer and §76.71, Concerning Savings Bank Complaint Notices
     
  9. Discussion of and Possible Vote to Take Action on the Proposal and Publication for Comment of Amendments to 7 TAC, Part 4, Chapter 79, §79.20, Concerning Investigations and §79.30, Concerning Hearings and Appeals
     
  10. Discussion of and Possible Vote to Take Action on the Proposal and Publication for Comment of Amendments to 7 TAC, Part 4, Chapter 80, §80.301, Concerning Investigations, Administrative Penalties, and Disciplinary and/or Enforcement Actions and §80.302, Concerning Hearings and Appeals
     
  11. Discussion of and Possible Vote to Take Action on the Proposal and Publication for Comment of Amendments to 7 TAC, Part 4, Chapter 81, §81.301, Concerning Investigations and §81.302, Concerning Hearings and Appeals
     
  12. Discussion of and Possible Vote to Take Action on Anticipated and Pending Litigation

 

Note: The Finance Commission may go into executive session (close its meeting to the public) on any agenda item if appropriate and authorized by the Open Meetings Act, Texas Government Code, Chapter 551.

Meeting Accessibility: Under the Americans with Disabilities Act, the Finance Commission will accommodate special needs. Those requesting auxiliary aids or services should notify the Texas Department of Banking, 2601 North Lamar Boulevard, Austin, Texas 78705, (512) 936-6222, as far in advance of the meeting as possible.