June 10, 2021 — On Friday, June 4, 2021, Texas Senate Bill 707 was signed into law by Texas Governor Greg Abbott, extending the Credit Union Department of Texas operations until 2033.
The Texas Sunset Advisory Commission recommended the 12-year extension, stating, “Texas-chartered credit unions have fared well under the state’s current regulatory framework; the Sunset Commission again found the existing organizational structure is the best option and transferring the department would have no benefit at this time.”
John J. Kolhoff, Commissioner of the Credit Union Department, for the state of Texas, commented, “I would like to express my gratitude for the independent review by the Sunset Advisory Commission, the incredible efforts of our staff, the leadership of the Credit Union Commission and the support of the industry.”
Mar 25, 2021 — The first virtual Texas Governmental Affairs Conference was held March 22 and featured visiting Texas state representatives, a special roundtable discussion between the Texas Credit Union Department and National Credit Union Administration, a Q&A session, and a legislative update from Cornerstone League leaders. The event was hosted by Texas Credit Union Association and Executive Director Gili Carter.
Mary Ann PerezRep. Mary Ann Perez (D-Pasadena) discussed her bill, HB 2106, which she called a “clean-up bill” for those passed in 2019. HB 2106 relates to the prevention, identification, investigation, and enforcement of payment card fraud and provides a civil penalty. Card skimming is the use of electronic card devices used to steal credit card information from consumers and results in millions of dollars in losses for financial institutions.
Perez was able to pass three laws in 2019 through the House of Representatives after months of negotiations with merchants, law enforcement agencies, and financial institutions. HB 2945 related to payment card skimmers on motor fuel dispensers and to creating a payment fraud fusion center; imposing civil penalties; and creating criminal offenses. HB 2624 authorized prosecution and HB 2625 provided penalties to criminals.
Texas regulator earns reaccreditation
Aug. 10, 2016 — Texas is the latest state to earn reaccreditation by NASCUS, continuing the Lone Star State’s status that began in 1996, when the Texas Credit Union Department was first accredited. (press release) READ
Texas Trust Credit Union Gift to Help Vought Aircraft Heritage Foundation Transport Replica Plane
April 22, 2015 – Arlington, Texas – Texas Trust Credit Union has donated a truck to the Vought Aircraft Heritage Foundation that the group will use to transport a restored half-scale F4U Corsair, a plane that it exhibits for educational purposes.
NCUA Gives Preliminary Approval for Proposed Players Choice Federal Credit Union Field of Membership
May 22, 2014 – Houston, Texas –Players Choice Federal Credit Union has been given preliminary approval by the NCUA for field of membership (FOM). The multiple common bond of the credit union includes a number of organizations focused primarily on professional and amateur sports, according to W. Robert Hall, president of Hall Associate Consulting, LLC. The entities approved for the proposed credit union’s membership include both associations and businesses. It is anticipated that Players Choice FCU will be located in the Houston, Texas, area. Organizers of the credit union plan for it to offer electronic services allowing it to serve members throughout the country.
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