Texas Credit Union Commission to meet July 12
Posted: Jul 2, 2019 | Author:
The Commission will meet on Friday July 12 at 9 a.m. at its office located at 914 E. Anderson Lane in Austin.
The Department’s 2019 financial performance, the status of the state credit union system, and the budget for FY 2020 will be reviewed.
The Commissioner Evaluation Committee will report on the objectives and goals that will be used for the Commissioner’s FY 2020 performance evaluation and procedures for the FY 2019 review.
Proposed rule changes before the commission:
- Amendments to 7 TAC Section 91.801 that would add "Property Management Services" to the types of services that would be authorized for a Credit Union Service Organization (CUSO,) making the state rules consistent with the federal regulations governing the authority of CUSOs that provide property management services;
- Amendments to 7 TAC Section 91.901 that would increase the time required to submit a request for a decreased required reserve transfer application to the Commissioner from 10 days to 14 days before the end of the quarter;
- Amendments to 7 TAC Section 91.1003 removes the requirement that the acquiring credit union has $65.2 million or more in assets on its latest call report in order to be required to file a statement as to whether the transaction is subject to the Hart-Scott Rodino Act premerger notification filing requirements; and
- Amendments to 7 TAC Section 91.101 that would define the term "consolidated CUSO" utilized in Section 91.401.
The Commission will receive reports on the relevant issues in the 86th legislative session that may impact the Department and the status of the Department’s sunset review scheduled for 2021.
Contact Jeff Huffman, Texas Credit Union Association, at 469-385-6488 or jhuffman@txcua.coop for more information.
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