Transcript Highlights:

• When a Texan goes into an FDIC-insured institution, what type of disclosures do they get?

Bills: HB42

Keywords: special prosecutor, state law, criminal justice, accountability, law enforcement

Summary: The committee heard Senator Flores lay out the committee substitute for HB 2894, which would expand state reimbursement eligibility for local governments disproportionately affected by the disabled veterans homestead exemption. Flores said the bill would add certain municipalities in Bell, Coryell, and Lampasas counties if lost ad valorem tax revenue equals or exceeds 10% of general revenue, while existing recipients would remain under the current 2% threshold. Lampasas and Bell County officials and the City of Killeen testified in support, describing significant revenue losses and urging adequate funding. One witness, Howard Avery, argued any reimbursement should be counted as property tax revenue for voter-approval rate purposes to avoid a windfall. The committee later adopted the substitute and reported the bill favorably, with one nay. The committee also heard SB 782, which would create a temporary severance tax exemption for restimulated inactive oil and gas wells, intended to encourage investment in mature wells. The Comptroller explained the revised fiscal note as effectively zero because the wells are currently marginal and not generating meaningful tax revenue, while industry witnesses said the bill could extend well life, support local economies, and reduce orphan-well liabilities. Public testimony was supportive, and the bill was left pending. Members then heard HB 3033, a DPS-related grant program funded by voluntary $3 donations on driver’s license and ID applications to support nonprofits aiding injured or fallen DPS officers and their families, including memorial highway signs. The DPS Officers Association supported the bill, citing existing foundation assistance and the need for a steady funding stream. The committee later reported the bill favorably. The committee also considered SB 524, which would permanently extend the franchise tax and fee exemption for qualifying veteran-owned businesses for their first five years; testimony from a veteran business owner and veterans advocates supported the measure, and the committee adopted the substitute and reported it favorably. Additional measures were laid out and left pending or voted out: HB 3594, a local San Antonio retiree health care fund bill with agreed changes for contributions, spouse benefits, and remarriage rules, was supported by stakeholders and reported favorably; HB 4738 would repeal small administrative fees tied to certain loans and was reported favorably; HB 42 on HEAF funding and HB 5246 on the Texas Space Commission were heard and left pending. The committee also reported HB 3474, a cleanup bill for the Pension Review Board’s investment performance review schedule, and HB 2802, the Austin firefighter retirement fund bill, both favorably. Finally, the committee took up HB 1056, which would allow gold and silver held in the Texas Bullion Depository to function as legal tender through debit-card transactions. Supporters framed it as a way to use hard assets and expand financial options, while bankers and some senators raised major operational, consumer-protection, tax, and constitutional questions; the bill remained under discussion as testimony began.

Transcript Highlights:

• We have NCUA insurance, which is basically the same type of limits as FDIC insurance that banks offer
• And then we can also offer FDIC insurance, which banks carry. on those funds and we were able to give

Keywords: Meeting Start 00:00:00 Call to Order and Roll Call 00:00:15 Department of Insurance Update 00:01:39 Department of Financial Institutions Update 00:37:07 Insurance Industry Update 00:54:50 Credit Union Industry Update 01:10:53, 958, all

Summary: The committee met with a quorum, approved the September 16 minutes, and then received an update from Insurance Commissioner Sharon Clark and staff on the Department of Insurance. Clark reviewed department activity, including growth in premium volume and licensing, consumer complaints and recoveries, and a rise in fraud referrals. She said the department has 66 open fraud cases and described common schemes such as staged auto accidents, inflated repair or cleanup charges, and roofing scams. She also said the department’s investigators often prepare strong cases but face reluctance from local prosecutors, especially in Fayette and Jefferson counties, to pursue them. Clark reported favorable workers’ compensation news, saying rates will decrease 9.7% next year for the 20th straight year. She contrasted that with a difficult property insurance market driven by storms, reinsurance costs, inflation, labor shortages, and litigation, but said Kentucky’s market remains relatively stable, citing the Kentucky Fair Plan’s small number of policies. She then warned of significant 2026 health insurance premium increases on the exchange: 16.1% for Molina, 23% for Anthem, and 37% for WCare, after CareSource withdrew. She said the rates were reviewed by actuaries and found fair, but that the biggest pressure point is the scheduled expiration of enhanced premium tax credits, which she said could leave about 90% of exchange enrollees facing a compounded increase. Members questioned Clark about fraud prosecution, the number of people in commercial versus public coverage, and the impact of expiring subsidies. Clark said the prosecution issue is mainly with Commonwealth attorneys and that rural counties are more cooperative than urban ones. She also said the health market is individually rated and that older enrollees would be hit harder, while the loss of tax credits could push some people out of the marketplace. One member asked about the attorney general’s recent opinion on SB 188, the PBM bill; staff said attorneys were still reviewing it. Clark closed by noting that Kentucky’s fraud and towing/storage legislation has become a model for other states.

Transcript Highlights:

• compliance group dedicated in that bank under $6 billion is avalanched by these requests from the FDIC
• compliance group dedicated in that bank under $6 billion is avalanched by these requests from the FDIC
• 35.279> the is avalanched by these requests from the is avalanched by these requests from the FDIC
• 36.880> Reserve,<03:33:37.279> the<03:33:37.439> OC,<03:33:38.160> the FDIC
• , the Federal Reserve, the OC, the FDIC, the Federal Reserve, the OC, the State<03:33:38.720> Bank

Keywords: U.S. House of Representatives Floor Proceedings on Tuesday, May 12, 2026, 1012, house, all

Transcript Highlights:

• different, I won't say the content of the examination is necessarily any different based on whether the FDIC
• different, I won't say the content of the examination is necessarily any different based on whether the FDIC
• if<00:32:41.120> the<00:32:41.279> if<00:32:41.519> the<00:32:41.679> FDIC
• <00:32:42.320> provides whether the if the if the FDIC provides whether the if the if the
• FDIC provides you<00:32:42.799> know<00:32:42.960> 20<00:32:43.200> examiners<00

Keywords: 1189, house, all

Transcript Highlights:

• agencies, mortgage-backed securities, commercial paper, A1, and P1, all of which have more safety due to FDIC

Keywords: 996, all

Transcript Highlights:

• I think, I mean, we can refer things to the OCC or the FDIC, but that's not a space that Commerce occupies

Keywords: 1187, senate, all

Transcript Highlights:

• Chair and presenters, on page 12, the FDIC— Fix e-file for $5 million. Can you explain that too?

Transcript Highlights:

• account with a debit account that mimics, you know, the ordinary checking account that probably gets FDIC
• 05:26:56.920> probably<05:26:57.400> gets<05:26:57.840> it's<05:26:58.040> FDIC
• account that probably gets it's FDIC account that probably gets it's FDIC insured<05:26:59.440><

Keywords: 928, house, all

Summary: The committee first heard the Banking Department’s fiscal year 2026-2027 budget presentation from Commissioner Amelia Galeri. She described the department as a self-funded consumer protection regulator overseeing two main areas: the Banking Trust Division, which supervises state-chartered banks, credit unions, and trust companies, and the Consumer Credit Division, which oversees more than 7,000 licensees including mortgage and money transmitter businesses. She said the department’s budget is about 86% salaries and benefits, with 53 positions all filled, and explained that the agency funds itself through fees, fines, and end-of-year assessments on regulated entities. Galeri said the department is facing workload growth from several directions: continued growth in the trust industry, increased fintech supervision, and a new requirement to regularly examine auto dealers that take finance applications, which adds about 300 exams over two fiscal years. She said the department was directed to flat-fund its budget based on 2025 levels but was allowed to increase travel and training. To stay within that limit, she said the department reduced office space, went paperless, converted administrative and licensing positions into examiner positions, and expects to defund an embedded DOJ database administrator position once a new SharePoint system is fully implemented. Members asked about how the department’s revenue and assessments work, including whether fees were increasing and how much existing banks would pay. Galeri said fees are not being raised, most banks pay little or no fines, and assessments are based largely on asset size, with trust companies paying the bulk. She also explained that fines are set by statute, generally capped at $2,500 per violation for consumer credit entities, and said she would not recommend increasing that cap. The committee then voted to accept the Banking Department’s budget proposal as presented in HQ1, with a motion and second and no discussion. The transcript then moved to the Department of Energy budget. Commissioner Jared Chakin and Chief of Operations Lenny Radio discussed federal program funding, including LIHEAP fuel assistance and weatherization. They said the apparent drop in fuel assistance funding from FY 2024 actuals to the budgeted amount is due to the loss of ARPA and CARES Act supplemental funds, while weatherization remains a federally constrained program with a waiting list and limited flexibility. Members also asked about a proposed transfer from the renewable energy fund; staff said the transfer would still allow the department to carry out its statutory duties for the year, though the committee deferred deeper discussion until House Bill 2.

Transcript Highlights:

• irrespective of whether they are deposit insured, since the act prohibits stablecoins from being covered by FDIC
• irrespective of whether they are deposit insured, since the act prohibits stablecoins from being covered by FDIC
• irrespective of whether they are deposit insured, since the act prohibits stablecoins from being covered by FDIC
• irrespective of whether they are deposit insured, since the act prohibits stablecoins from being covered by FDIC
• irrespective of whether they are deposit insured, since the act prohibits stablecoins from being covered by FDIC

Keywords: U.S. House of Representatives Floor Proceedings on Thursday, July 17, 2025, 1012, house, all

Transcript Highlights:

• ; it is a tax on nearly every Minnesotan because banking is an essential service, according to the FDIC

Keywords: 1187, senate, all

Transcript Highlights:

• An FDIC-insured bank is going to have a different relationship with a dealer than someone who's not.

Summary: The committee first took up SB 712, which would expand California’s smog-check exemption for classic vehicles by adding model years 1976 through 1986 in phases, with a sunset in 2032. The author and supporters, including lowrider advocates and the Specialty Equipment Market Association, argued the bill would preserve car culture, support a small class of rarely driven collector vehicles, and reduce burdens on owners who struggle to find equipment for older smog tests. Opponents, including air district officials, the American Lung Association, and other environmental groups, warned the bill would weaken an important emissions-control program and increase pollution. After discussion, the committee adopted the motion to do pass as amended to Appropriations on a roll call vote of 10-0, with the roll held open for additional votes. The committee then heard SB 800, which requires Caltrans, working with local governments, to assess mitigation measures for suicide prevention on locally owned overpasses crossing state highways. The bill was presented as a response to recent tragedies in Rancho Cucamonga and was supported by local officials, health organizations, and suicide-prevention advocates, who said the measure would help identify high-risk locations and lead to life-saving interventions. There was no registered opposition. The committee members expressed support, and SB 800 was passed to Appropriations on a unanimous roll call vote, with the roll held open. Next, the committee considered SB 30, which would prohibit California public entities from selling, donating, or transferring decommissioned diesel locomotives and railroad equipment with Tier 1 or older engines unless the engine is removed, while allowing Tier 2 and newer transfers under certain conditions. The author and supporters framed the bill as a climate and public-health measure to prevent older, dirtier locomotives from continuing to pollute elsewhere, while transit agencies opposed it, arguing it could limit useful transfers of equipment that still supports passenger service and could be better handled through case-by-case air-quality review. After debate, the committee voted 6-4 to pass SB 30 as amended to Appropriations, with the roll held open for later additions. The committee also heard SB 791, which replaces the flat dealer document processing charge cap with a 1% fee capped at $350, along with new disclosure requirements. Dealers and industry groups supported the bill as a way to recover costs and improve transparency, while consumer advocates opposed it as an unjustified increase that would burden buyers. The committee approved SB 791 on a 8-? roll call vote and held the roll open. The meeting then moved on to SB 34, a port-air-quality bill presented by Senator Richardson, but the transcript ends during testimony and debate on that measure.

Transcript Highlights:

• I'm also a legal federal regulator, and that's with our FDIC banks and our Federal Reserve Board of Governors

Keywords: 908, all

Summary: The Human Services Committee met in interim session and first approved the previous meeting minutes before receiving a series of presentations on homelessness and housing stability. Jennifer Henderson of the North Dakota Housing Finance Agency updated members on the new Interagency Council on Homelessness, describing its executive-order mandate to review resources, gather input from stakeholders, identify gaps, and develop recommendations. She said the council’s first work is building a statewide program matrix of existing homeless services and funding sources, with attention to youth, tribal communities, and other vulnerable populations. Members raised concerns about youth homelessness, homeless veterans, and how the council will stay focused on a practical framework rather than getting lost in details. The committee also discussed possible connections to the rural health transformation grant and agreed to continue the topic later in the spring. Beth Olson of Presentation Partners in Housing described the organization’s housing-first model in Cass County and Clay County, including homeless prevention/diversion, housing navigation, and Cooper House, a 42-unit permanent supportive housing building in Fargo. She said the organization focuses on people with long-term and chronic homelessness, many with mental health, addiction, health, domestic violence, and Indigenous identity-related barriers, and reported strong outcomes: 85 of 86 people housed in 2025, 91% still housed after one year, and major reductions in emergency room use, ambulance rides, jail stays, detox days, and shelter use. She also explained that state funding has grown from a small share of the budget to about $1.1 million in state-connected funding for fiscal 2026, largely through contracts tied to supportive services. Members asked about vouchers, rent contributions at Cooper House, length of stay, and whether similar projects could be expanded elsewhere. Andrea Olson of the Community Action Partnership of North Dakota outlined statewide homeless and housing-related services delivered through six community action agencies in all 53 counties. She explained the Community Services Block Grant structure, said housing was identified as the top need in the most recent statewide needs assessment, and described programs including Supportive Services for Veteran Families, North Dakota Homeless Grant services, and Home ARP supportive services. She emphasized that the end of North Dakota Rent Help has increased pressure on the system, that the current $2 million annual homeless grant is far smaller than prior rent-help assistance, and that community action is using case management and financial assistance to move households toward self-sufficiency. Members asked about funding formulas, rural service delivery, and coordination with Presentation Partners to avoid duplication. YouthWorks then began a presentation on youth homelessness, describing services for ages 12 to 24, the special needs of youth and former foster youth, and the organization’s use of federal and state funds to support transitional housing, emergency shelter, maternity housing, and diversion services.

Transcript Highlights:

• That relates to an organization of the kind that includes the FDIC, so we can't do it on our own.

Bills: HB246, HB796, HB 1056, HB1544, HB1846, HB2001, HB2618, HB2625, HB2869, HB2898, HB3069, HB3114, HB3157, HB3228, HJR98, HB246

Keywords: federal directives, state authority, Tenth Amendment, government enforcement, local governance, gold standard, legal tender, currency, transactional currency, financial transactions, electronic payment systems, state finance, regulatory compliance, electric trucks, charging infrastructure, advisory council, transportation, sustainability, criminal penalties, official information

Transcript Highlights:

• Item 9 is agency resources and staffing recommendations continue the FDIC to ECAP at the 24-25 biennium

Keywords: 1184, house, all

Transcript Highlights:

• USDC only looks stable today because all you taxpayers bailed them out with the FDIC.

Keywords: U.S. House of Representatives Floor Proceedings on Wednesday, July 16, 2025, 1012, house, all

Transcript Highlights:

• We do also have a service on it, which means it’s FDIC insured.
• Okay, so the whole balance is FDIC insured for the entire amount of it, and it’s all in an FBO for the

Keywords: 928, house, all

Summary: The Finance Division 2 work session first took up HB 506, a bill dealing with the return of seized firearms. Members discussed how the measure would shift background-check processing for firearm returns through the Department of Safety, while the physical firearms would still remain with local police unless State Police had taken custody. The department said the bill would change which cases come to it, and members clarified that the bill concerns the background-check decision rather than possession of the firearms. The committee then voted OTP on HB 506 FN by a 7-0 roll call. The committee next discussed HB 671, establishing a kindergarten literacy readiness program. Department of Education staff explained that the bill grew out of a COVID-era Waterford contract that provided home-based early literacy support for families using federal relief funds, at a cost of about $600,000 per year, but that the program ended when those funds expired. Members raised concerns that the bill’s $1 appropriation was not realistic, that the prior program lacked sufficient outcome data, and that the references to ESSA tier-one benchmarks were unclear. The department said it was conducting a broader literacy needs assessment and updating the state literacy plan, including data from the zero-to-five range, K-5, and dyslexia-related work. Waterford representatives described the program as an early-literacy, pre-K readiness service for children ages zero to five, originally designed to work in homes with computers and internet provided where needed, and later expanded in some settings such as daycares and pre-K classrooms. They said the program used assessments at the beginning and end, had served hundreds of children, and was intended to support family engagement and kindergarten readiness. Despite that testimony, members remained concerned about funding and the lack of clear results, and one member moved to retain the bill for more information. The discussion ended with the bill retained rather than advanced.

Transcript Highlights:

• ; it is a tax on nearly every Minnesotan because banking is an essential service, according to the FDIC

Keywords: 919, house, all

Summary: The committee took up House File 2437, the governor’s proposed tax bill, and first adopted the A25-Z42 amendment to put the bill in the desired shape. Commissioner Paul Marquardt of the Department of Revenue then presented the bill as part of Governor Walz and Lieutenant Governor Flanagan’s budget, describing it as a response to budget pressures that would make the tax system more fair and stable while supporting economic development and jobs. Marquardt walked through the bill’s major provisions. These included sustainable aviation fuel policy, repeal of K-12 education credit assignment, elimination of the political contribution refund, expansion of the research and development credit, short-line railroad infrastructure modernization, changes to the state airport fund levy, replacement of attachments and appearances with distribution systems, a narrow personal property tax exception for low-income housing tenants, reduced aquatic invasive species aid, and a 34% reduction in PILT payments. He then focused on the sales tax article, saying it would lower the statewide rate by 0.75% while expanding the base to selected professional services such as accounting, banking, brokerage, and legal services, with business-to-business transactions exempt. He said the proposal would be effective for sales and purchases after September 30, 2025, and estimated a first-year rate-cut impact of about $99 million versus $215 million from the service expansion, while arguing that most households would see a net tax cut. He also noted other changes such as landlord penalty adjustments, a 30% reduction in sustainable aviation fuel incentive payments, repeal of local government cannabis aid, and repeal of the tax filing modernization account. Public testimony began with Kyle Playford of the Financial Planning Association of Minnesota, who strongly opposed the proposed sales tax on professional services, especially financial planning. He argued that financial planning is an essential service for retirement, investment, and long-term financial security, and said the tax would raise costs for consumers, reduce access for middle-class families, small business owners, and retirees, and put Minnesota firms at a competitive disadvantage. The chair then indicated that additional public testimony would continue before member questions.

Transcript Highlights:

• the Minnesota Insurance Guarantee Association, which you can kind of look at as similar to what the FDIC

Keywords: 1187, senate, all

Transcript Highlights:

• tell you is that y'all have provided us with much this last session with the additional commissioned FDIC

Keywords: flooding, emergency response, communication systems, first responders, disaster management, Texas Water Development Board, regional planning, public safety

Summary: The meeting primarily focused on discussions around the recent floods in Texas, specifically addressing emergency preparedness, response coordination, and recovery efforts. Officials from various agencies provided testimonies on the challenges faced during the emergency, including issues with communication systems among first responders. Notably, the need for improved inter-agency communication and technology integration was emphasized, with recommendations for establishing regional communications units for better coordination during disasters. The audience included local government representatives and emergency management partners, who shared insights and experiences from the recent flooding events.

Keywords: 916, all