AUSTIN, Texas — The Texas Sunset Commission in a unanimous vote handed a new 12-year lease on life to the Texas Credit Union Department amid appeals that Washington might also heed the state action against severe tampering of regulatory restructure.
At its final hearing here, the commission adopted supportive CU language on sunset bills to be heard by the Texas legislature Jan. 13 and enacted amendments deleting monetary fines on administrative penalties.
In a statement expressing support for the commission action, the Texas Credit Union League said the vote reflects affirmation "by Texas policymakers how well the separate, independent regulatory agency works to foster safe and sound state chartered credit unions."
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"It's a message that could resonate in Washington with our Texas Congressional delegation, as Congress begins to consider regulatory restructuring at the national level and consider the future of NCUA," declared Jeff Huffman, TCUL's vice president of government relations.
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