[{"_1":2,"_112":-5,"_113":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,76,88,100],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},"mediaId",6325420,"mediaKeyId","2333468-617331396076157a181894b9af1b179e","parentId",2333468,"title","State banking regulator urges tailored oversight as Tennessee loses community banks","audioSeconds",691,"startMs",585000,"endMs",1276000,"viewUrl","/Search/View?dp=1&key=2333468-617331396076157a181894b9af1b179e&start=585&end=1276","thumbnailUrl","https://assets.pipeline.soar.com/2333468-617331396076157a181894b9af1b179e/thumbnail_585000.jpg","articleUrl","/articles/6325420/Tennessee/State-banking-regulator-urges-tailored-oversight-as-Tennessee-loses-community-banks","mediaUrl","https://secure.pipeline.soar.com/6325420-06b947f8b3e74a7afb448e89e8244cfd/orig.mp4?Expires=1771148329&Signature=cJwxnc310W5luTpPZAp687dj7XlLWwOEjvRSxt4z9F5iQrh~AVZc7wYg5aTkX~OyD5U-QP~aPKlEHgRyBeRZ2zSXN2tisePTOC6rxiQVQS4fDu0x-KA6WjddcdEz3UcbY8X8~09HWKSb2CacInk3IUW9GXkRdSH7lPulpoz0lvhDth8JPGkfoWeam7W5zYIr0eaxF-sNNZlmj-A4cPkRWIDB1dF1Isxf9mZGtlmkrlsdZQEe8VuwdwtFvYju2KJVJv7GFLzFHLDIPxXpI~1QXgg6cOlS1YzTJz8VOrYYjiInj8j-IiLGm2nYI-LPSabAS1cubT8ex9GVehvWnJJDZA__&Key-Pair-Id=KUT5TJCACFTXG","author","TN State Legislature","date","2025-02-18T00:00:00Z","article","Commissioner Gonzales of the Tennessee Department of Financial Institutions told the Senate Commerce and Labor Committee that the department’s goal is to preserve a safe, sound banking system while avoiding “one‑size‑fits‑all” regulation that can harm community banks.

Gonzales said state regulators oversee state banks, credit unions, trust companies and many non‑deposit entities and that Tennessee has seen a long decline in the number of state‑chartered community banks. “Since ’92, we have gone from 207 Tennessee state banks to 104 today,” he said, adding that the number would be lower if federally chartered banks that later converted to state charters were excluded. He said the department has not seen a new state bank since 2008 in many cases, and that reversing that trend is an objective.

The commissioner told the committee the department is funded by the entities it regulates and that state law calls on the department to provide a safe and sound system. He said federal regulatory policy changes can create unfunded work for state supervisors and that Tennessee seeks a regulatory balance that supports local economic development. Gonzales suggested efficiency measures — such as having state examiners perform the examinations of the smallest federally supervised institutions and sharing those exams with federal partners — as one way to shorten examination timelines and improve timeliness for well‑rated, lower‑risk banks.

Nut graf: Gonzales framed his testimony during the department’s budget hearing as a policy and operational briefing: he described long‑term declines in community banks, ongoing efforts to reduce departmental rule burdens, staff vacancies and the multiyear training pipeline for examiners — and he asked the legislature to consider narrowly targeted statutory authority related to deposit insurance characteristics so Tennessee can respond if federal deposit‑insurance policy changes.

On staffing and training, Gonzales said it historically takes about five years to train an examiner and that the department has shaved only a few months off that schedule because much training is mandated or provided through federal courses. He credited recent salary support from the governor and legislature with improved recruitment and retention but said vacancies remain and that absorbing a larger exam workload — if federal responsibilities were shifted to the state — would require careful staffing and funding decisions.

Gonzales also reviewed the department’s rule reduction work, saying the agency has repealed three entire rule chapters and is processing four more, plus partial repeals and amendments to two other chapters, as part of an effort to eliminate unnecessary regulation.

On policy proposals, Gonzales asked the legislature to consider a narrowly drawn bill that would give the department explicit authority to require certain deposit‑insurance characteristics for state banks so the state can coordinate if deposit‑insurance policy is debated at the federal level. He said the request is intended to preserve Tennessee’s ability to work with federal partners and the governor’s office if deposit‑insurance rules change in Washington.

Ending: After questioning from committee members about examiner training and possible efficiencies, the committee moved the department’s budget to the Senate Finance Committee; the clerk recorded the budget motion as adopted and the committee closed the DFI portion of its agenda.

","mediaType","Video","parentTitle","Senate Commerce and Labor Committee\tFeb 18, 2025","oneSentenceSummary","Commissioner Gonzales of the Tennessee Department of Financial Institutions told the Senate Commerce and Labor Committee the agency favors tailored oversight to preserve community banking and flagged staffing, examiner training and rule‑reduction work as the department’s priorities.","taxTitle","Commerce and Labor, Senate, Committees, Legislative, Tennessee","taxId",36488,"location","Tennessee","headline","","shortSummary",{"_33":77,"_35":36,"_37":38,"_39":78,"_41":79,"_43":80,"_45":81,"_47":82,"_49":83,"_51":84,"_53":85,"_55":56,"_57":58,"_59":86,"_61":62,"_63":64,"_65":87,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6325405,"Commerce and Labor committee advances three consumer and product bills; votes listed",307,5723000,6030000,"/Search/View?dp=1&key=2333468-617331396076157a181894b9af1b179e&start=5723&end=6030","https://assets.pipeline.soar.com/2333468-617331396076157a181894b9af1b179e/thumbnail_5723000.jpg","/articles/6325405/Tennessee/Commerce-and-Labor-committee-advances-three-consumer-and-product-bills-votes-listed","https://secure.pipeline.soar.com/6325405-944d1bb90489409c08817ccbaec0996d/orig.mp4?Expires=1771148329&Signature=UkLN2wE~CND4nOIkl7HVHRWyP22KmqKAKuDmyudurPzd~0W56lzFvscQkmfeFZPBH71sPQ213CFAmhXOznRCkBWl6Ug-jEEQXdWCSygn2CLvKjduflaw-W8sHhzs~zKB3honKYEhT~gzV6N0Z46ilIiTNKFeiMaJWW~wrUnjv1Az5DrMtvdYmX~LpaH7B0RFHB6Okh5SpaQ8Qh1gu91gZFPeYdUwNbmdYBSieo2jeBc-gC0GaxC18Uldcgg1QesK5aKo1Dn3vryLM3iFTHHD~Cp7L6Wt27nNHRV-EvfmFhLyEXCYcMT4ah26PRx~jVtdt7hjb9q6C~V0wm5FY5e03Q__&Key-Pair-Id=KUT5TJCACFTXG","The Senate Commerce and Labor Committee considered and voted on three separate pieces of legislation during the meeting.

SB 512 — counterfeit and non‑conforming lighters: Chairman Bailey sponsored a bill that would add protections against counterfeit lighters by prohibiting sale of lighters that do not comply with American Society for Testing and Materials (ASTM) standards. The sponsor said the bill does not change novelty lighter law and includes transportation and storage exceptions. The committee adopted the bill and the motion carried in committee vote (recorded as approved by committee).

SB 41 — billing cycle cancellations: Sponsored by Senator Hale, the bill prevents providers from billing an additional full cycle when a consumer cancels a month‑to‑month service in the first half of the billing period; it does not change minimum contract durations or year‑long contract rules. The committee approved the bill and it was referred to the calendar.

SB 909 — real‑estate wholesaling disclosure: Also sponsored by Senator Hale, this bill requires buyers engaged in wholesale real‑estate transactions (where a buyer contracts to purchase property and then assigns the buyer’s equity interest to another purchaser) to disclose certain information to the seller and any potential purchaser. The committee approved the bill and moved it out of committee.

Votes at a glance: each bill passed committee. The committee recorded vote tallies in the transcript; the clerk announced the motion results and the committee advanced each measure for further consideration consistent with committee procedure.

","The Senate Commerce and Labor Committee advanced three bills on product safety, consumer billing protections and residential real‑estate wholesaling disclosure during the hearing.",{"_33":89,"_35":36,"_37":38,"_39":90,"_41":91,"_43":92,"_45":93,"_47":94,"_49":95,"_51":96,"_53":97,"_55":56,"_57":58,"_59":98,"_61":62,"_63":64,"_65":99,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6325409,"Commerce & Insurance asks $1M supplemental for line‑of‑duty deaths, details recruitment and training spending",682,4960000,5642000,"/Search/View?dp=1&key=2333468-617331396076157a181894b9af1b179e&start=4960&end=5642","https://assets.pipeline.soar.com/2333468-617331396076157a181894b9af1b179e/thumbnail_4960000.jpg","/articles/6325409/Tennessee/Commerce-Insurance-asks-1M-supplemental-for-lineofduty-deaths-details-recruitment-and-training-spending","https://secure.pipeline.soar.com/6325409-340c56f4cae62bccaf76afcde54df959/orig.mp4?Expires=1771148329&Signature=PLeHpIQjxM-e64OUuaOejcZwseE5mjMM0BvGKgNsUJQjNTlkmT6dWa99M8MsrTHJh6jn23aDs3eBUZfmwLVMDqzYrXGb~l55XGt1u5c8zgv~NDqcTJ9O4FjXEePI6BJSIEZzi1PmJPICU7x91J0uRWf5teR-2-YEwDOG0Ew3FScBMv1ypakC3-AqdJT2QBvq-noblybQDs0nEucEbSXFwapOab0b9K0mNLeXLesg2WCqR26ALlFCXJjNDcguPe8JRembPyajaSbJ52HTCu2dFQut7UtnUZQFN2m6tZkERQoYWZdljJyCTqmMBm1uPuv2NXKmj0Rhz2mFw4UvEzVzJQ__&Key-Pair-Id=KUT5TJCACFTXG","Carter Lawrence, commissioner of the Tennessee Department of Commerce and Insurance, presented his agency’s budget priorities to the Senate Commerce and Labor Committee and requested a $1 million supplemental appropriation for line‑of‑duty death benefits.

Lawrence outlined four recurring cost increases: statutorily mandated step increases for the Tennessee Law Enforcement Training Academy and the Peace Officer Standards and Training Commission, a salary survey adjustment, and an ongoing depreciation appropriation for a recently replaced fire apparatus. The department also requested funding to purchase new radios after a tabletop exercise recommended improved interoperability for instructors and statewide incident response.

Nut graf: The commissioner framed the $1 million supplemental — $400,000 already encumbered and $600,000 requested for potential future line‑of‑duty costs — as contingency funding that would revert if unspent; he also proposed a modest reduction of $138,500 to captive insurance marketing and travel budgets to meet reduction requirements.

Deputy Commissioner Jennifer Peck provided specifics on the recruitment and retention grants for law enforcement that committee members asked about. Peck said the department has received a total of $84 million in the recruiting/retention and training buckets (described during the hearing as allocations from larger tranches). She said the first $30 million tranche — intended for recruitment — had committed approximately $17 million to date, covering about 2,150 officers with 622 payments already processed; participation included about 240 departments. Peck said a second $30 million tranche covered recruitment and retention measures (including bonuses) and that $12 million of a related tranche funded an $800 payment supplement (distributed to about 13,461 officers).

Committee members asked about the agency’s request to use recurring funds for apparatus depreciation; Lawrence said the request responds to vehicle asset management guidance and is expected to be temporary, with the cost removed from future budgets after the asset’s life is accounted for. The captive insurance cut is intended to trim marketing and travel spending while keeping the state’s captive domicile program competitive.

Ending: The committee voted to move the department’s budget to the Senate Finance Committee for consideration.

","Commerce and Insurance Commissioner Carter Lawrence asked for a $1 million supplemental for line‑of‑duty death benefits and outlined recurring salary and equipment costs, radio replacements and a targeted reduction in captive insurance marketing funds.",{"_33":101,"_35":36,"_37":38,"_39":102,"_41":103,"_43":104,"_45":105,"_47":106,"_49":107,"_51":108,"_53":109,"_55":56,"_57":58,"_59":110,"_61":62,"_63":64,"_65":111,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6325415,"Economic development seeks $213.3M; commissioners warn energy constraints could limit growth",2852,2053000,4905000,"/Search/View?dp=1&key=2333468-617331396076157a181894b9af1b179e&start=2053&end=4905","https://assets.pipeline.soar.com/2333468-617331396076157a181894b9af1b179e/thumbnail_2053000.jpg","/articles/6325415/Tennessee/Economic-development-seeks-2133M-commissioners-warn-energy-constraints-could-limit-growth","https://secure.pipeline.soar.com/6325415-44b9286be324c0884710e123119157df/orig.mp4?Expires=1771148329&Signature=MBTNClQbeMVcJQz2dd~aUIdeNYFdD0rFvXrvINvORv43uF3H61FdbP6rTjOP4GeUtxBiMC1~d0Q8FhjLzUCo7hGEez5Z0gGBv6QmZK5R7R0oGUxgbJdApsU-x9jYfxk0WmanmvHPxGcY5BzQfkx~UhoYBhEWXXkY5WY4IQKnCgv1qhbxZqGF0AT186F6rnEQdXIFbIADfbDhR2TFOXQp9YPhDIjSqWpFIHXSuHI0cwU~kWUV0Jc1I7stt2Aageaf8VLIlTE6TbbyXRWUwlEzxNtSvuYC4yeDSsmUFHdd-3AiciaAa0Db6-dNAIeVwM82n0GAgFnC821E~zSBYyj~4A__&Key-Pair-Id=KUT5TJCACFTXG","Stuart McWhorter, commissioner of the Tennessee Department of Economic and Community Development, presented a $213.3 million fiscal‑year request to the Senate Commerce and Labor Committee, framing the request as a strategic shift toward workforce development, research and development, site readiness and rural community investment.

McWhorter said $151.1 million of the request would be funded from department carry‑forward and that $62.2 million is new state appropriations (of which $10.2 million would be recurring and $52.0 million nonrecurring). He told the committee the department intends no new positions and described a multiyear pipeline of projects: since the start of the governor’s administration the department has landed roughly 605 projects representing about 100,000 net new jobs and more than $41 billion in capital expenditure; roughly half of recent projects and a large share of new jobs have been in rural Tennessee.

Nut graf: McWhorter used the budget hearing to summarize ECD’s recruiting and site‑development work, explain how the department proposes to spend reserve balances and to defend continued targeted grant spending on nuclear industry supply chain development and small modular reactor (SMR) support — measures he said are needed for long‑term energy resilience that supports large advanced manufacturing projects.

The commissioner reviewed several program lines members asked about: the headquarters relocation assistance program will be reduced now that qualifying rebates are complete; the site readiness program and broadband investments remain central to the agency’s pitch for competitiveness; and SBIR/STTR support and a proposed $10 million expansion for those federal commercialization programs are a part of the package.

Several senators pressed the commissioner on energy availability for large power users. Senator Taylor delivered extended remarks warning that energy supply — not only workforce — is becoming the limiting factor for attracting advanced manufacturing and data center projects. Commissioners and staff described current engagement with the Tennessee Valley Authority (TVA) and said TVA already is investing in additional peak capacity; McWhorter and deputy commissioners argued the state’s nuclear supply‑chain funds are designed to build a domestic supplier base and to support TVA’s Clinch River small modular reactor work. McWhorter said the state will consider a $50 million match for a Department of Energy grant tied to a TVA SMR project and that a separate $10 million nuclear industry initiative grant request would supplement earlier appropriations (the state previously set aside $60 million for nuclear supply chain efforts and has announced or accepted roughly $13.5 million of grants with about $17.3 million pending while dozens more projects remain under evaluation).

McWhorter and staff also described how the department handled TruGreen’s recent relocation decision: the department said incentives apply only to net new Tennessee jobs, and that baseline counts and accountability agreements are used to prevent incentives from subsidizing in‑state relocations that do not create net new employment.

Ending: After extended questioning on energy and rural infrastructure, the committee voted to move the ECD budget to the Senate Finance Committee for consideration.

","The Department of Economic and Community Development requested $213.3 million and highlighted heavy use of reserves, rural investments and a push for nuclear‑supply and small modular reactor grants; commissioners and senators debated energy supply limits — particularly TVA capacity — and pipeline projects such as XAI.","actionData","errors"]

Article not found

State banking regulator urges tailored oversight as Tennessee loses community banks

Commerce and Labor committee advances three consumer and product bills; votes listed

Commerce & Insurance asks $1M supplemental for line‑of‑duty deaths, details recruitment and training spending

Economic development seeks $213.3M; commissioners warn energy constraints could limit growth