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Committee extends Department of Financial Institutions’ sunset to 2029; commissioner outlines oversight of nonbank lenders
Summary
House Bill 242 received a positive recommendation to extend the Department of Financial Institutions’ statutory sunset to 2029. Commissioner Gonzales described the agency’s risk‑based oversight of payday and short‑term lenders and explained how examinations are targeted toward higher‑risk firms.
The House Government Operations Committee on March 10 voted to advance House Bill 242, extending the Department of Financial Institutions’ statutory sunset to June 30, 2029. The committee recorded a vote of 12 ayes and 0 no's.
Chairman Lafferty introduced HB 242 as a routine sunset extension and invited Commissioner Gonzales of the Department of Financial Institutions to summarize day‑to‑day operations for new committee…
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