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Texas Credit Union Commission Meets Friday, March 9
Thursday, March 8, 2018 6:55 AM

The regularly scheduled meeting of the Texas Credit Union Commission will be held at 9 a.m. at 914 East Anderson Lane in Austin. The Commission will review the following pending matters:

  • Adoption of proposed new 7 TAC Section 91.1010 that provides guidance to credit unions considering voluntary liquidation of a solvent institution. 
  • Adoption of proposed 7 TAC Section 91.4001 which imposes a new requirement that credit unions using electronic means or facilities to employ a tested incident response to minimize the impact of a data breach or other electronic incident on members, expands the examples of electronic means or facilities to include mobile applications and eliminates the reference to the World Wide Web.
  • Adoption of proposed 7 TAC Section 91.4002, which requires a credit union to review the adequacy of its web site’s security measures annually instead of once every 2 years and updates the rule for clarification and better readability.
  • Adoption of proposed 7 TAC Section 91.5001 that encourages credit unions to post notice of emergency closing of an office or operation on its website and social media pages.
  • Adoption of proposed 7 TAC Section 91.5005 which requires credit unions to post notice of a permanent closing of an office on its website and social media pages at least 30 days prior to the closing.
  • Adoption of proposed 7 TAC, Part 8, Chapter 153, to implement the changes to the home equity lending law.
  • The Department’s 2018 financial performance and the status of the state credit union system.

New matters before the Commission:

  • Adoption of the completed rule review of 7 TAC, Part 6, Chapter 93 concerning administrative proceedings.
  • Approval for publication and comment on the proposed amendments, new section and three repeals in 7 TAC, Part 6, Chapter 93. The proposed rule changes generally relate to four areas: (1) consistency with the Administrative Procedure Act Texas Government Code, Chapter 2001 (APA), (2) consistency with the State Office of Administrative Hearings (SOAH) procedural rules, (3) better readability and clarification, and (4) technical corrections.
  • Approve and authorize submission of the Department’s Annual Risk Assessment report for FY 2018.
  • Approve and authorize the submission of the Department’s Strategic Plan for FYs 2019-2023.
  • Approve proposed amendments to the Commission’s policies manual as part of its annual policy review.
  • Approve the general budget assumptions and parameters to be used in developing the Department’s FY 2019 budget.
  • Approve commemorative resolutions of Associated Credit Union of Texas, Mesquite Credit Union, and SPCO Credit Union.

For more information, please contact Texas Credit Union Association President Jeff Huffman at 469-385-6488 or jhuffman@txcua.coop.