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 committed acts of dishonesty, violated regulatory orders, or caused financial harm to the licensee or its stakeholders. The commissioner can serve these orders based on credible evidence and may make them effective immediately or for a specified duration, with the possibility of a hearing if requested by the affected individual.

Additionally, the bill establishes a process for individuals subject to a removal or prohibition order to apply for release from such orders after ten years. The application must be made under oath and may be approved or denied at the commissioner's discretion, with the 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.

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