Finance Commission Meeting - October 16, 2020

Due to Governor Greg Abbott’s March 13, 2020 proclamation of a state of disaster affecting all counties in Texas due to the Coronavirus (COVID-19) and the Governor’s March 16, 2020 suspension of certain provisions of the Texas Open Meetings Act, the October 16, 2020 meeting of the Finance Commission of Texas will be held via webinar/telephonic conference call, as authorized under Texas Government Code section 551.125.

Members of the public who would like to participate in this meeting will need to register for the Audit Committee and Finance Commission Meeting. The agenda is available below, and a copy of the meeting materials will be available on October 8, 2020 on the Finance Commission website. To access the recording visit the meeting material and packets section of the website after October 16, 2020. 

 

Time:
9:00 a.m.
or Upon Adjournment of the Audit Committee Meeting Via Webinar

Section A.3 will take up agenda items A1 and D2 – D3 with NO DISCUSSION as notated in bold and italicized

Public comment on any agenda item or issue under the jurisdiction of the Finance Commission of Texas 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 August 21, 2020 Finance Commission Meeting
     
  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’ 2020 Fourth Quarter Investment Officer Reports
       
      1. Texas Department of Banking
      2. Department of Savings and Mortgage Lending
      3. Office of Consumer Credit Commissioner
         
    2. Discussion of and Possible Vote to Recommend that the Finance Commission Take Action on the Agencies’ 2020 Fourth Quarter Financial Statements
       
      1. Texas Department of Banking
      2. Department of Savings and Mortgage Lending
      3. Office of Consumer Credit Commissioner

         
  6. Status Report on Implementation of Sunset Management Recommendations
     
    1. Sunset Recommendation 2.6 – “Direct the Finance Commission to minimize duplication of agency functions and promote more cost-efficient administration of the finance agencies.”
       
    2. Other Sunset Management Recommendations
       
      1. Finance Commission of Texas
      2. Texas Department of Banking
      3. Department of Savings and Mortgage Lending
      4. Office of Consumer Credit Commissioner
         
  7. Discussion of the Condition of the Texas State Banking System Report (Note: Report provided separately)
     
  8. Discussion of and Possible Vote to Take Action on the Accomplishment Reports for Fiscal Year 2020 for the Commissioners of the Texas Department of Banking, Department of Savings and Mortgage Lending and the Office of Consumer Credit Commissioner
     
  9. Discussion of and Possible Vote to Take Action on the Adoption of Amendments, a New Rule, and a Repeal in 7 TAC, Part 8, Chapter 151, Concerning Home Equity Lending Procedures, and Chapter 153, Concerning Home Equity Lending, Resulting from Rule Review
     
  10. 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
     
  11. 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
     
  12. Discussion of 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
     
  13. 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. 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) Non-Depository Supervision 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 Proposal and Publication for Comment of Amendments to 7 TAC §19.51, Concerning Other Real Estate Owned by Trust Companies
     
  3. Discussion of and Possible Vote to Take Action on the Proposal and Publication for Comment of Amendment to 7 TAC §3.37, Concerning Calculation of Annual Assessment for Banks
     
  4. Discussion of and Possible Vote to Take Action on Anticipated and Pending Litigation
     

C. Department of Savings and Mortgage Lending

  1. Industry Status and Departmental Operations: a) Thrift Regulation Division Activities; b) Mortgage Regulation Division Activities; c) Operations Division Activities; d) Legal Division Activities, including Consumer Complaints and Gift Reporting; and e) Legislative Activities
     
  2. Discussion of and Possible Vote to Take Action on Anticipated and Pending Litigation
     

D. 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 Adoption of Amendments to 7 TAC, Part 5, Chapter 82, Concerning Administration, Resulting from Rule Review
     
  3. Discussion of and Possible Vote to Take Action on the Readoption of 7 TAC, Part 5, Chapter 84, Concerning Motor Vehicle Installment Sales, Resulting from Rule Review
     
  4. Discussion of and Possible Vote to Take Action on the Adoption of Amendments, a New Rule, and a Repeal in 7 TAC, Part 5, Chapter 83, Subchapter B, Concerning Rules for Credit Access Businesses, Resulting from Rule Review
     
  5. Discussion of and Possible Vote to Take Action on the Adoption of Amendments and a New Rule in 7 TAC, Part 5, Chapter 89, Concerning Property Tax Lenders
     
  6. Discussion of and Possible Vote to Take Action on the Proposal and Publication for Comment of Amendments to 7 TAC, Part 5, Chapter 84, Concerning Motor Vehicle Installment Sales, Resulting from Rule Review
     
  7. Discussion of and Possible Vote to Take Action on Anticipated and Pending Litigation 


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


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.