H.B. No. 3833 seeks to enhance the regulation of money services businesses in Texas by amending various sections of the Finance Code. The bill introduces new requirements for individuals in control of a money services licensee or applicant, mandating the submission of fingerprints for a national criminal history background check and disclosure of any criminal convictions or regulatory actions. It clarifies that a determination of application completeness by the commissioner does not equate to an evaluation of its substance. Additionally, currency exchange licensees are required to maintain security through a surety bond or approved deposit, and the bill outlines permissible investments for money transmission licensees. Stricter criteria for the suspension or revocation of licenses are also established, emphasizing compliance with state and federal laws.

The bill further amends the regulation of money transmission licensees and their authorized delegates by replacing the terms "principal" or "responsible person" with "key individual," thereby broadening the oversight scope. It grants the commissioner authority to suspend or revoke the designation of an authorized delegate for various violations, including non-compliance and engagement in fraudulent practices. Cease and desist orders can now be directed at key individuals, enhancing accountability. Moreover, any emergency order must be acknowledged through a written certification signed by the relevant parties, ensuring awareness of the order's implications. These changes aim to strengthen regulatory oversight and uphold high standards of conduct 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)