This is a Memo in regard to the Sunset Review of the Texas Department of Savings & Mortgage Lending. The Texas Sunset Commission has recently released its report, which recommends abolishing the Texas Department of Savings and Mortgage Lending (SML) and transferring its regulatory duties to the Texas Banking Department. The Sunset Commission has scheduled hearings for the Finance Commission of Texas and its agencies at 9:00am Thursday, May 24, 2018, in Room E2.030, Capital Extension, in Austin. This memo outlines the details of the process and the potential implications of eliminating this department.
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