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Banking regulator asks for ongoing funding for two examiners to oversee new charters
Summary
Kevin Hagler, Commissioner of the Department of Banking and Finance, requested ongoing funding for two examiner positions to handle increased workload related to merchant-acquiring and limited-purpose bank charters; the precise FY26 funding amount was not clearly enunciated in the transcript.
Kevin Hagler, Commissioner of the Georgia Department of Banking and Finance, told the General Government Subcommittee the department needs ongoing funding for two examiners in the Financial Institution Supervision unit to meet increased workload from new charters for merchant-acquiring and limited-purpose banks.
Hagler said the two positions were funded temporarily in an amended budget from April through the end of the fiscal year and that the present request is to include the full-year cost in the fiscal 2026 budget. He described the request as a continuation of a prior, short-term accommodation and offered to answer committee questions about merchant-acquiring supervision.
Hagler stated the line under Financial Institution Supervision (Section 14.2.0.2 in the tracking sheets) describes increased funds for the two examiners. During the presentation Hagler read a funding figure for FY26; the transcript did not clearly capture that number. He told the committee he would answer further technical questions as needed. The committee did not take action during the session.
