[{"_1":2,"_88":-5,"_89":-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],{"_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",6322668,"mediaKeyId","2347020-5dda4c88a1fc396ca52e032ac996206f","parentId",2347020,"title","Banking subcommittee advances four bills to full Commerce committee","audioSeconds",126,"startMs",615000,"endMs",741000,"viewUrl","/Search/View?dp=1&key=2347020-5dda4c88a1fc396ca52e032ac996206f&start=615&end=741","thumbnailUrl","https://assets.pipeline.soar.com/2347020-5dda4c88a1fc396ca52e032ac996206f/thumbnail_615000.jpg","articleUrl","/articles/6322668/Tennessee/Banking-subcommittee-advances-four-bills-to-full-Commerce-committee","mediaUrl","https://secure.pipeline.soar.com/6322668-80d0b70c851a49a5099e371897b7728f/orig.mp4?Expires=1770963068&Signature=ZZm6McrHlV5tr7eFc8QBfOvN3ABTLhv2pe7Iqd7eej-QzZdfGRn6koIKfIonVqEe49uvse8rYHyiR3QKSJOH~B3XXnYHcJP59WTnGZkWN4XcUUYL377UKzr3ENcO35G7rexPMdeb0G8plL7Dorid5DK-fwz37OiItOuoU-NwOQyzg8RsV1tjbw6GUVAeKfOArgIjs9w39BQSs2pdmm2GHRpVxT1FUKwozTxnwRb5xL5GKEpBO5yWAZIncZYW9V7PEP81SsuZWBCAKz1VzmsQvsliUoEeWKHdeTdF3KFTFVyeNXqOmoe3igWLuHFwyYmj8RK9KNBL0cjUMggcQoJKlw__&Key-Pair-Id=KUT5TJCACFTXG","author","TN State Legislature","date","2025-02-19T00:00:00Z","article","The Banking & Consumer Affairs Subcommittee advanced four bills to the full Commerce Committee after brief presentations and committee discussion.

House Bill 0110, presented as an administration measure, would clarify statutory authority for the commissioner of the Tennessee Department of Financial Institutions to determine types, amounts and other characteristics of deposit insurance for state banks. Commissioner Greg Gonzales told the committee the department considers ‘‘safety and soundness, public confidence, [and] being able to work with the industry’’ when assessing deposit-insurance issues. The clerk reported five ayes and the chair said the ayes have it; the bill will go to full Commerce.

House Bill 0908, presented by Leader Gary Marshall, would allow lenders to use the current index rate for home-equity lines of credit (HELOCs) that extend beyond 15 years instead of requiring the 30-year Treasury yield. Marshall said the change responds to a lack of market availability for 30-year-indexed HELOCs. The clerk reported five ayes; the bill will go to full Commerce.

House Bill 0817, described by Leader Gary Marshall as a cleanup of trust-related statutes, updates definitions, clarifies when a public trustee may be appointed, modernizes certain electronic-notice provisions, and clarifies reimbursements and who may serve in nonfiduciary investment-adviser roles. The clerk reported five ayes; the bill will go to full Commerce.

House Bill 0343, presented by Representative Caplan, would prohibit 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 rules or target distributors or storage. The clerk reported five ayes; the bill will go to full Commerce.

Votes at a glance: the clerk reported 5 ayes on each bill and the chair announced each measure will advance to the full Commerce Committee. Formal vote records with member-level votes were not provided in the transcript.","mediaType","Video","parentTitle","Banking & Consumer Affairs Subcommittee\tFeb 19, 2025","oneSentenceSummary","The Banking & Consumer Affairs Subcommittee voted unanimously to advance four bills — on deposit-insurance authority, HELOC indexing, trust law cleanup, and lighter safety standards — to the full Commerce Committee.","taxTitle","Banking & Consumer Affairs, House of Representatives, Committees, Legislative, Tennessee","taxId",79843,"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},6322673,"Tennessee banking commissioner urges tailored oversight to protect community banks and enable prudent innovation",749,216000,965000,"/Search/View?dp=1&key=2347020-5dda4c88a1fc396ca52e032ac996206f&start=216&end=965","https://assets.pipeline.soar.com/2347020-5dda4c88a1fc396ca52e032ac996206f/thumbnail_216000.jpg","/articles/6322673/Tennessee/Tennessee-banking-commissioner-urges-tailored-oversight-to-protect-community-banks-and-enable-prudent-innovation","https://secure.pipeline.soar.com/6322673-7cfd3f5ea80517f6df2af010434218c6/orig.mp4?Expires=1770963068&Signature=YoJofGDoYnQSnYv67iT~718vCjbdF6EOh9wfNRuEFeOwwXZN6~YJ1oqqHSIG9k9u792nlsgWCZ8s5xGdcaeZLOk7VUM8gDpxuEk6QYMDRHBIPNXEmm786S3ODDLMJqqJOvTQNhLyRPqJzRIQ~MAzKzuUPcCth2vcI6neXkU~TqpiCRlIo7RHpNs03WDDMZiBGPvJyMre92NuRofW13rNoj0SfMrAHLQbzmhq8JxD9CBtixORElmEBJDlMH45DYCTEoO1hu03H1iNLrqcgYZCdDUdz~Lj04hRXHDSA63L2BCGpGFLsKfmFYIh6mYW6PA8KIKN1UbzTKTZT~e3WUSdpA__&Key-Pair-Id=KUT5TJCACFTXG","Greg Gonzales, commissioner of the Tennessee Department of Financial Institutions, told the Banking & Consumer Affairs Subcommittee on a snowy Wednesday that state regulators should calibrate oversight so community banks remain viable and can pursue prudent innovation.

Gonzales said the department’s primary objective is “a safe and sound banking system that can support economic development,” and that regulators should avoid a one-size-fits-all approach that imposes unnecessary cost on small institutions.

The commissioner emphasized the department looks at traditional safety-and-soundness measures when determining supervisory expectations and, when asked about authority over deposit insurance, listed “safety and soundness, public confidence, [and] being able to work with the industry” as factors the commissioner would consider. He added that prior commissioners have required federal deposit insurance in practice “for decades,” and that clarifying that authority in statute would be useful.

Gonzales warned the committee that Tennessee has lost many state-chartered banks over recent decades and urged policy choices to stem that trend. “Since 1992, we've gone from 207 Tennessee state banks to a hundred and 4 today. Just 10 years ago, we had a 50,” he said. He described consolidation as mainly the result of acquisitions and mergers rather than failures and said the department is exploring options—including asking federal partners to let state regulators perform examinations for the smallest, well-rated, noncomplex banks and then share results—to reduce duplicative compliance costs.

On innovation, Gonzales said the department is open to responsible adoption of new products and services, including discussions about crypto and artificial intelligence, but that such activity must be managed prudently. “We support banks and others in being able to innovate. Yeah. It just needs to be done prudently,” he said. He clarified the department’s current supervisory role for crypto-adjacent activity: “We don't regulate crypto. We don't regulate crypto. What we do, though, for those institutions that are engaged in crypto, we try to understand the impact of that activity on the financial condition of those companies.” He added the department does regulate money-transmitter companies that exchange crypto for fiat or other crypto.

Gonzales summarized recent regulatory simplification actions at the department, saying it has repealed three full rule chapters and is processing the repeal or amendment of several others. He repeated the department’s stated philosophy of limited regulation calibrated to risk and urged cooperation between state and federal regulators to maintain community banking capacity.

Committee members asked about causes of consolidation and about crypto. Representative Hemmer asked for reasons behind the drop in charters; Gonzales pointed to compliance costs, scale economics and merger activity. Representative Vaughn and others praised Gonzales’s accessibility and his willingness to discuss regulatory tradeoffs.

Gonzales concluded by telling members the department will continue to focus on core supervisory responsibilities while seeking efficiencies and that he welcomes early conversations with institutions and policymakers about innovation and regulatory expectations.","Commissioner Greg Gonzales told the Banking & Consumer Affairs Subcommittee the department aims for a \"safe and sound\" banking system, warned of continuing consolidation of state-chartered banks, and said the department does not regulate crypto though it monitors money-transmitter activity.","actionData","errors"]

Article not found

Banking subcommittee advances four bills to full Commerce committee

Tennessee banking commissioner urges tailored oversight to protect community banks and enable prudent innovation