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Found 20 matching passages in 6 documents.
Meeting transcript · Georgia House Banks & Banking Committee · March 26, 2026
House Banks & Banking Committee, March 26, 2026
Summary by Georgia Commons (AI-written): The committee considered a substitute for SB 424, which the sponsor described as a voluntary system for using privately stored gold and silver to make payments. Members questioned the tax impact, effects on community banks, fraud protections, fees, privacy, price changes and access for people without traditional banking services. Several members urged further study. A securities official said the division could develop rules, investigate fraud and provide financial education. The committee approved an amendment allowing access to account information for lawful securities investigations, but the motion to approve the amended bill failed. No vote count was announced.
And just a couple of quick things I'd like to just- Yeah ... point out. Um, this says the Commissioners of Security shall promulgate, promulgate guidelines for bullion depositories that are consistent with industry best practices, et cetera. And as, as members of the legislature, I kinda feel like establishing the, the rules of engagement should be a...
So that was added back, was gonna be added in here. There's a, an, we were gonna do an amendment to do that, and that came from them as they looked at the, um, as, at the bill. I just wanted to answer those two questions before we got any- Okay. I'm sorry. I appreciate your answer. Thank, thank you. Um. One more? Um. Are you- Uh, no, it, uh, I'm good, Mr....
Meeting transcript · Georgia House Banks & Banking Committee · March 17, 2026
House Banks & Banking Committee, March 17, 2026
Summary by Georgia Commons (AI-written): The committee heard a presentation and public testimony on SB 424, which would recognize gold and silver as legal tender and establish a state-supervised system for storing and spending them. Members questioned costs, taxes, consumer protections, private competition and whether more study was needed. Witnesses offered opposing views on government involvement and safeguards. The chair announced that the bill would be tabled until the following week so members could seek more answers. No counted vote was stated.
We found gold, and we also found silver coins that we had no idea they were worth what they were worth." So I think this, this opens the door for people to hold gold and to be able to transact business with gold under state auth- If I could ask one final question- Yes, ma'am ... Mr. Chairman. Would you look at lines 188 to 191 and, uh, kinda explain what...
And then what I see is access. Uh, if I have own stocks or I own anything else, I've gotta go exchange. I've got to sell that, and it's not a, an easy process. I have to pick up the phone and call, or I can do it on my phone. This way, I have access to it. My app will tell me how much money I have, and I can swipe my card. As I mentioned, the example, of...
Meeting transcript · Georgia House Banks & Banking Committee · February 20, 2026
House Banks & Banking Committee, February 20, 2026
Summary by Georgia Commons (AI-written): The committee considered two bills. It approved HB 1272, which the sponsor described as a state licensing and oversight framework for payment stablecoin issuers. Members questioned consumer protections, fraud prevention, reserve requirements and the Department of Banking and Finance’s ability to oversee the industry. The committee also discussed HB 1112, which would allow certain cash purchase totals to be rounded to the nearest nickel. Members asked about disclosure, sales taxes and continued use of pennies. A voice vote was taken on that bill, but the chair did not explicitly announce the result before adjourning. After adjournment, speakers continued discussing clarifying language and preparing a substitute.
Thank you. Uh, thank you. Uh, number 16. Thank you, Mr. Chairman, and to you, Mr. Chairman. My concern, or I guess my question is, first of all, does our department have the capacity to regulate this? And secondly, what assurances do we have that our consumers are going to be protected in this environment? I'll take the first one, you take the second....
You wanna take that or you want me to? Well, uh, the, the stable coin, uh, you know, the Stable Coin Act itself, uh, has, like I said, has protection for consumers, but, but, uh, it, it's just a, uh, a digital currency. And, and just like it has all the laws that are, that banks come under and, and all those things, this comes under, uh, many of those laws...
Meeting transcript · Georgia House Banks & Banking Committee · February 2, 2026
House Banks & Banking Committee, February 2, 2026
Summary by Georgia Commons (AI-written): The committee considered a substitute for HB 945, presented as the Department of Banking and Finance’s annual housekeeping bill. Discussion focused on allowing banks and credit unions to pause suspected fraudulent transactions involving older or disabled adults, regulating cryptocurrency kiosks, and strengthening oversight of litigation financing. Members asked about banks’ liability, employee training, kiosk transaction limits and refunds, and whether financial institutions would use the optional holds. The committee approved a do-pass motion by voice vote, with no opposition heard, and adjourned.
So this is one big bite at the apple to protect our elderly, elderly community. Um, so just real quickly is this, this proposal will allow the financial institution to place a hold of up to 15 days on an individual transaction that the, that the financial institution reasonably believes may involve, facilitate, result in, or contribute to financial...
Mr. Chairman, can I s- Uh-huh. I got two- Yes, sir ... I got two questions for you real quick. Number 13? Sure. Thank you, Mr. Chairman. Yes, ma'am. So is there any, uh, penalty if the bank employee, in our opinion, should have known but did not initiate this hold? That's a good question. Uh, I know that if... This legislation would protect the bank if they...
Meeting transcript · Georgia House Banks & Banking Committee · February 5, 2026
House Banks & Banking Committee, February 5, 2026
Summary by Georgia Commons (AI-written): The committee heard testimony and approved HB 934, which the chair, serving as sponsor, said would transfer securities and commodities regulation from the Secretary of State to the Department of Banking and Finance. Secretary of State officials urged a study and cost estimate before a transfer. Members questioned those officials about the response to First Liberty and debated whether moving oversight would improve investor protection. Supporters favored placing regulation under an appointed commissioner rather than an elected official who can receive campaign contributions. Other members raised concerns about costs, political appointments and whether a transfer would solve the problems discussed. The committee approved the bill by voice vote, with opposition heard and no count announced.
We respectfully disagree with that, but... And I'm gonna go over my bill in just one minute, but thank you for your presentation. I have one more question, and then I'm gonna present, if we have any other time. Number 22. Uh, thank you, Mr. Chairman. Uh, you know, n- n- not r- we're talking about people here. If the people move from one r- report from one...
Thank, thank you. And thank you all for your presentation. And if it pleases the, uh, group, I'm gonna present my bill, and hopefully we can get this thing out. And, um, so I'm gonna sit here, and I'm gonna present House Bill 9, House Bill 934. LC number is 620362S. And we have discussed this bill, um, in bits and pieces, and I'm gonna hit the highlights....
Meeting transcript · Georgia House Banks & Banking Committee · February 26, 2026
House Banks & Banking Committee, February 26, 2026
Summary by Georgia Commons (AI-written): The committee approved a change to HB 1112 allowing customers to pay the exact amount with pennies rather than have a cash purchase rounded. The committee also considered HB 1314, which would require certain lenders to tell borrowers whether a loan is reportable to a credit reporting agency. Members discussed consumer choice, possible costs and burdens on small-loan lenders. A motion to pass received audible support in a voice vote, with no opposition heard, and the chair ended the meeting without explicitly announcing the result.
Thank you, Mr. Chair. Thank you, Committee. I will keep this brief. So I'm here to present HB 1314. We're working off of LC 620237. This bill would ensure that licensees under GILA, the Georgia Installment Lending Act, disclose to a borrower whether a loan is reportable to a credit reporting agency. This bill is designed to provide just some additional...
They weren't. They're not. Okay. And with it, your main thing that I, I missed, I'm sorry, I've been sitting at 15 red lights with people on cell phones, so, uh, a little frustrated. But, um, you're saying that where... What's the problem? L- l- line 27, or what are we trying to correct here? No, so it's not this one. Thank you. Okay. I, I- So which one?...
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