H.B. No. 3833 seeks to strengthen the regulation of money services businesses in Texas by amending various sections of the Finance Code. The bill mandates that individuals in control of a money services licensee or applicant provide additional information to the commissioner, including fingerprints for a national criminal history background check and details about any criminal convictions or regulatory actions. It clarifies that a determination of application completeness by the commissioner does not equate to an assessment of its substance. Furthermore, it requires currency exchange licensees to maintain security through a surety bond or approved deposit and outlines permissible investments for money transmission licensees. The bill also establishes qualifications for individuals acquiring control of money services licensees and introduces requirements for the management and reporting of financial statements, including the necessity for audited financial statements.

Additionally, the bill amends the regulation of authorized delegates by money transmission licensees, replacing the term "principal" or "responsible person" with "key individual," thereby broadening the oversight scope. The commissioner is empowered to suspend or revoke the designation of an authorized delegate for specific violations, such as non-compliance with laws or engagement in fraudulent activities. It also allows for cease and desist orders to apply to key individuals and requires those affected by an emergency order to submit written certification of their understanding. These changes aim to enhance regulatory oversight and compliance within the money transmission sector, with the bill set to take effect on September 1, 2025.

Statutes affected:
Introduced: Finance Code 152.105, Finance Code 152.107, Finance Code 152.152, Finance Code 152.203, Finance Code 152.351, Finance Code 152.104, Finance Code 152.354, Finance Code 152.356, Finance Code 152.403, Finance Code 152.404, Finance Code 152.405, Finance Code 152.410 (Finance Code 152)
House Committee Report: Finance Code 152.105, Finance Code 152.106, Finance Code 152.104, Finance Code 152.152, Finance Code 152.203, Finance Code 152.351, Finance Code 152.354, Finance Code 152.356, Finance Code 152.403, Finance Code 152.404, Finance Code 152.405, Finance Code 152.410 (Finance Code 152)
Engrossed: Finance Code 152.105, Finance Code 152.106, Finance Code 152.104, Finance Code 152.152, Finance Code 152.203, Finance Code 152.351, Finance Code 152.354, Finance Code 152.356, Finance Code 152.403, Finance Code 152.404, Finance Code 152.405, Finance Code 152.410 (Finance Code 152)
Senate Committee Report: Finance Code 152.105, Finance Code 152.106, Finance Code 152.104, Finance Code 152.152, Finance Code 152.203, Finance Code 152.351, Finance Code 152.354, Finance Code 152.356, Finance Code 152.403, Finance Code 152.404, Finance Code 152.405, Finance Code 152.410 (Finance Code 152)
Enrolled: Finance Code 152.105, Finance Code 152.106, Finance Code 152.104, Finance Code 152.152, Finance Code 152.203, Finance Code 152.351, Finance Code 152.354, Finance Code 152.356, Finance Code 152.403, Finance Code 152.404, Finance Code 152.405, Finance Code 152.410 (Finance Code 152)