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Found 12 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.
Thank you, Mr. Chairman. Thank you. Thank you, Senator, for being here again today. Appreciate the conversation. So just a couple questions follow up from the last, the last week when we met, but so I've been following gold and silver, as many of us have, for many, many years, and it's a great, you know, it's a great investment. People use, we use it for...
We would also, there's rulemaking, we could create, work with, you know, our stakeholders, our industry, you, uh, and other, you know, stakeholders on creating robust rules that would help us- Okay ... with fraud enforcement. Follow-up? So with- Okay. Thank you, Chair. If I swipe my... If somebody did steal my card, what would be the procedure? Would I, who...
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.
Chairman? So, uh, also, when we're talking about using the, the, the, the depository, uh, what would be the fee? W- do we, do we have any idea what the fee would be to the, to the consumer that calls up and- I don't have a, I don't have a fee except what I have with one, this one vendor that I've been dealing with, and I'm not vendor specific. I think what...
I think this, it opens the door and it gives us an option that we've not had, and it's voluntary in that respect. But if I'm gonna put my... If I had a $100,000 worth of gold, I'm gonna insure that against theft, and I think they can do that for us very well compared to what they're doing already around the country. Got another question? Yeah, one more. One...
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.
Sure. Uh, so the, there are about 25 states, about half the states have passed something similar to this that allows banks to do it, and there's an a report- From the American Bankers Association, uh, talking about transaction holds that's out there, talking about their usage and the banks that have the ability to do it and if they do it, and also talking...
Uh, and to your point about how wide the adoption is, I don't know, maybe there's a way for the Department of Banking and Finance and the credit unions to, um, to facilitate the training, to immediately, uh, highlight it, and maybe have some kind of encouragement through their associations to get people trained more quickly on it and get it in place more...
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.
Even smarter than Mr. Ridley? He, he might have Ridley beat. He might- Little bit. Right? Little bit. Uh, about, um, the ins and out about banking, um, and finance. But the suggestion that we heard earlier of a study committee to make sure we get it right. Something needs to happen. I'm not saying nothing needs to happen. Something needs to happen, but I...
Does that, does your agency ever receive any contacts from potential regulators like the FDIC or the OCC as it relates to SA, S- SARS to alert you since apparently nobody in your agency listens to many radio stations on their commute to work that was having multiple advertisements, and it wasn't immediately figured out by anybody on the staff? Were there...
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 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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