H.B. No. 3805 amends the Finance Code by adding new sections that enhance the enforcement powers of the banking commissioner concerning money services businesses. The bill introduces provisions that allow the commissioner to issue removal or prohibition orders against key individuals or employees of money services licensees if they are found to have engaged in misconduct, such as committing acts of dishonesty or violating regulatory orders. The commissioner can serve these orders based on credible evidence and may make them effective immediately if the individual does not request a hearing. Additionally, the bill outlines the process for issuing orders in response to felony convictions related to money services, ensuring that such orders take effect immediately upon service.

Furthermore, the bill establishes a mechanism for individuals subject to removal or prohibition orders to apply for release from these orders after ten years. The application must be made under oath and accompanied by any required fees, with the commissioner's decision being final and not subject to appeal. This legislation aims to strengthen regulatory oversight and protect the integrity of money services businesses in Texas, with the new provisions set to take effect on September 1, 2025.

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