Report to the 86th Legislature: Sunset Advisory Commission Page: 19
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Sunset Advisory Commission
FINANCE COMMISSION OF TEXAS
TEXAS DEPARTMENT OF BANKING
OFFICE OF CONSUMER CREDIT COMMISSIONER
DEPARTMENT OF SAVINGS AND MORTGAGE LENDING
Carissa Nash, Project ManagerSummary
Since their last Sunset review 17 years ago, the three finance agencies -Texas
Department of Banking (DOB), Office of Consumer Credit Commissioner
(OCCC), and Department of Savings and Mortgage Lending (SML) - have
weathered the storms of the financial crisis well and maintained transparent,
accountable practices even with recent decreased legislative
oversight after the Legislature granted the agencies self-directed
semi-independent status, which places greater responsibility Self-
for oversight, coordination, and efciency on the Finance indepen
Commission rather than the Legislature. the buiThe Sunset Commission did not find significant concerns and e
with the agencies and recommends continuing each agency as Finan
a separate entity under the continued oversight of the Finance
Commission. However, the Sunset Commission concluded
the Finance Commission has not sufficiently harnessed its coordination role
over the three agencies to strongly press towards efficiency in operations. The
Sunset Commission recommends requiring the Finance Commission to adopt
best practices for oversight to ensure state funds continue to be used effectively
and programs are coordinated well between the closely related agencies under
its purview. Other recommendations provide for smaller, smarter government
by eliminating three small regulatory programs, and-aligning the agencies'
practices with standard best practices of other regulatory agencies.directed semi-
dent status places
den of oversight
efficiency on the
ce Commission.Recommendations
Continue
* Continue the Texas Department of Banking, Office of Consumer Credit Commissioner, and
Department of Savings and Mortgage Lending under the continued oversight of the Finance
Commission for 12 years, until 2031.
Finance Agencies
Report to the 86th Legislature19
February 2019
r
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Texas. Sunset Advisory Commission. Report to the 86th Legislature: Sunset Advisory Commission, report, February 2019; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1364727/m1/31/: accessed July 18, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.