Charles G. Cooper

The meeting included a review of agencies' activities, a discussion and possible vote to recommend action on the agencies' Fiscal Year 2026 Internal Auditor's Risk Assessment and Audit Plan, activities of the Texas Financial Education Endowment Fund, and activities of the Mortgage Grant Fund. Additionally, there was discussion and consultation on security audits and possible issues related to confidential or sensitive information.

The Audit Committee meeting included discussions on agencies' activities, the 2025 Fourth Quarter Investment Officer Reports, the 2025 Fourth Quarter Financial Statements, and the final selection of organizations to receive grant funds from the Texas Financial Education Endowment Fund. The committee also discussed charging certain expenses against the Texas Financial Education Endowment for grant administration and management, as well as the activities of the Texas Financial Education Endowment Fund and the Mortgage Grant Fund. A discussion and consultation on a security audit was deferred to an Executive Session.

The Finance Commission convened to discuss and take action on various matters. The commission reviewed and approved the agencies' 2025 Fourth Quarter Investment Officer Reports and Financial Statements. They also approved the final selection of organizations to receive grant funds from the Texas Financial Education Endowment Fund, along with charging certain expenses against the endowment for grant administration and management. Additionally, the commission discussed the condition of the Texas State Banking System and approved the Accomplishment Reports for Fiscal Year 2025 for the Commissioners of the Texas Department of Banking, the Office of Consumer Credit Commissioner, and the Department of Savings and Mortgage Lending. Amendments concerning residential mortgage loan originators and rules for regulated lenders were also discussed and approved for proposal and publication.

The Finance Commission meeting agenda includes a review and approval of the minutes from the October 24, 2025, meeting, general public comment, and discussions on finance commission operations. The Audit Committee will present a report, including a discussion and possible vote to recommend action on the agencies' Fiscal Year 2026 Internal Auditor's Risk Assessment and Audit Plan. There will be deliberations on personnel matters, facility planning, real property matters, and consultation with attorneys regarding potential financial exposure and pending litigation. The agenda also covers industry status and departmental operations for the Department of Savings and Mortgage Lending, the Texas Department of Banking, and the Office of Consumer Credit Commissioner, along with discussions on anticipated and pending litigation for these departments.

The Finance Commission convened to discuss and take action on various matters. The commission addressed the readoption of investment policies, and the approval of the agencies' Fiscal Year 2026 operating budgets. The commission also discussed and took action on agency priorities for Fiscal Year 2026. Additionally, the commission discussed and approved the proposal and publication for comment of amendments concerning residential mortgage loan originators and rules for operation for pawnshops. The commission authorized the three agencies to move forward with the design and construction of a new facility and to increase their long-term planning reserves.