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A BILL TO BE ENTITLED
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AN ACT
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relating to the continuation and functions of the Credit Union |
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Department and the Credit Union Commission. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter B, Chapter 15, Finance Code, is |
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amended by adding Section 15.104 to read as follows: |
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Sec. 15.104. NOTIFICATION AND GUIDANCE ON ADOPTION OF |
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CERTAIN FEDERAL LAWS OR REGULATIONS. The department shall promptly |
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notify and issue guidance to all credit unions chartered in this |
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state on the adoption of a federal law or regulation that: |
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(1) affects a power or authority conferred to credit |
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unions under Section 123.003(a); |
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(2) takes effect immediately; and |
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(3) conflicts with state law. |
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SECTION 2. Section 15.2041, Finance Code, is amended by |
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amending Subsection (b) and adding Subsection (d) to read as |
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follows: |
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(b) The training program must provide the person with |
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information regarding: |
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(1) the law governing department operations |
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[legislation that created the department]; |
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(2) the programs, functions, rules, and budget of the |
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department; |
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(3) the scope of and limitations on the rulemaking |
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authority of the commission; |
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(4) the results of the most recent formal audit of the |
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department; |
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(5) [(4)] the requirements of: |
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(A) laws relating to open meetings, public |
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information, administrative procedure, and disclosing conflicts of |
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interest; and |
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(B) other laws applicable to members of a state |
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policy-making body in performing their duties; and |
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(6) [(5)] any applicable ethics policies adopted by |
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the department or the Texas Ethics Commission[; and |
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[(6) the basic principles and responsibilities of |
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credit union management]. |
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(d) The commissioner shall create a training manual that |
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includes the information required by Subsection (b). The |
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commissioner shall distribute a copy of the training manual |
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annually to each commission member. Each commission member shall |
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sign and submit to the commissioner a statement acknowledging that |
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the commission member received and has reviewed the training |
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manual. |
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SECTION 3. Section 15.212, Finance Code, is amended to read |
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as follows: |
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Sec. 15.212. SUNSET PROVISION. The Credit Union Department |
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and the Credit Union Commission are subject to Chapter 325, |
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Government Code (Texas Sunset Act). Unless continued in existence |
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as provided by that chapter, the department and commission are |
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abolished September 1, 2033 [2021]. |
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SECTION 4. Sections 15.409(b), (c), and (d), Finance Code, |
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are redesignated as Section 15.408, Finance Code, and amended to |
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read as follows: |
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Sec. 15.408. CONSUMER COMPLAINTS. (a) [(b)] The |
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department shall maintain a system to promptly and efficiently act |
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on complaints filed with the department. The department shall |
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maintain information about parties to the complaint, the subject |
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matter of the complaint, a summary of the results of the review or |
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investigation of the complaint, and its disposition. |
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(b) [(c)] The department shall make information available |
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describing its procedures for complaint investigation and |
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resolution. |
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(c) [(d)] The department shall periodically notify the |
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complaint parties [person filing the complaint and each person who |
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is the subject of the complaint] of the status of the complaint |
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until final disposition unless the notice would jeopardize an |
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investigation. |
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SECTION 5. Subchapter E, Chapter 15, Finance Code, is |
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amended by adding Section 15.4081 to read as follows: |
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Sec. 15.4081. COMPLAINT TRACKING; ANNUAL STATISTICAL |
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ANALYSIS. (a) To help identify and address regulatory issues and |
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constraints, the department shall track all phases of the complaint |
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and enforcement processes, including the receipt, investigation, |
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and disposition of complaints. The department shall maintain the |
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following information for each complaint: |
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(1) the basis for the complaint; |
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(2) the origin of the complaint, including whether the |
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complaint was issued from: |
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(A) another regulatory agency; |
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(B) a credit union member; |
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(C) a credit union employee; |
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(D) a member of the public; or |
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(E) a public or private entity; |
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(3) the number of days taken to resolve the complaint |
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from the date the complaint was received; and |
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(4) the disposition of the complaint, including: |
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(A) if no disciplinary action was taken, the |
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reasons no disciplinary action was taken; |
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(B) if disciplinary action was taken, the type of |
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disciplinary action taken, including the amount of any |
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administrative penalty or late fee; |
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(C) if dismissed or referred to another agency, |
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the details regarding dismissal or referral; and |
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(D) if ongoing, the current status of the |
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complaint. |
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(b) The department shall annually compile a statistical |
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analysis of the department's complaint and enforcement processes |
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for the preceding fiscal year. The analysis must include: |
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(1) the total number of complaints filed with the |
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department against credit unions; |
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(2) the number of open investigations at the end of the |
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fiscal year; |
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(3) the number of complaints that were resolved, |
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disaggregated by: |
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(A) the source of the complaint; |
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(B) the type of alleged violation; |
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(C) jurisdictional and non-jurisdictional |
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complaints; |
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(D) regulatory and nonregulatory complaints; and |
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(E) the disposition and type of action taken, |
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including any administrative penalty or late fee assessed; and |
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(4) the average number of days taken to resolve a |
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complaint, including complaints that were resolved through an |
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examination of a credit union. |
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SECTION 6. The heading to Section 15.409, Finance Code, is |
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amended to read as follows: |
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Sec. 15.409. CONSUMER INFORMATION [AND COMPLAINTS]. |
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SECTION 7. Section 122.001(d), Finance Code, is repealed. |
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SECTION 8. The repeal of Section 122.001(d), Finance Code, |
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by this Act applies only to articles of incorporation filed on or |
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after the effective date of this Act. Articles of incorporation |
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filed before the effective date of this Act are governed by the law |
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in effect on the date the articles were filed, and the former law is |
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continued in effect for that purpose. |
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SECTION 9. (a) Except as provided by Subsection (b) of this |
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section, Section 15.2041, Finance Code, as amended by this Act, |
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applies to a member of the Credit Union Commission appointed |
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before, on, or after the effective date of this Act. |
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(b) A member of the Credit Union Commission who, before the |
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effective date of this Act, completed the training program required |
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by Section 15.2041, Finance Code, as that law existed before the |
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effective date of this Act, is only required to complete additional |
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training on the subjects added by this Act to the training program |
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required by Section 15.2041, Finance Code. A commission member |
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described by this subsection may not vote, deliberate, or be |
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counted as a member in attendance at a meeting of the commission |
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held on or after December 1, 2021, until the member completes the |
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additional training. |
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SECTION 10. This Act takes effect September 1, 2021. |