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Texas Sunset Commission votes to continue TCUD
FARMERS BRANCH, Texas (12/23/08)—The Texas Sunset Commission unanimously voted in favor of continuing the Texas Credit Union Department’s (TCUD) operations for 12 years during a final hearing on the issue last week. Commission members also voted in favor of an amendment, proposed by Rep. Dan Flynn and backed by the Texas Credit Union League, addressing two key league concerns: monetary fines and joint 990 filings (LoneStar Leaguer Dec. 17). The amendment strikes language that would have allowed TCUD to level monetary administrative penalties on credit unions. It also strikes language that would have removed TCUD’s authority to file joint 990s in the future. The commission also made a minor adjustment regarding providing member access to various types of credit union financial information at annual meetings. There was no dissent from the Sunset committee staff during the decision process, said TCUL.


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