The House Committee on Financial Institutions 77th Legislature June 4, 2002 10:00 a.m. Capitol Extension, E1.014 Pursuant to a notice posted on May 3, 2002, the House Committee on Financial Institutions met in a public hearing and was called to order by the chair, Representative Solomons, at 12:35 p.m. The roll was answered as follows: Present: Representatives Solomons; Denny; Getterman; Hopson; Menendez; Wise (6). Absent: Representatives Grusendorf; Marchant; Pitts (3). A quorum was present. Testimony was taken on Interim Charges #1-3 and 5 (See attached witness list). The charges read as follows: 1. Review the mortgage lending industry in Texas to determine whether the expectations of the Mortgage Broker Licensing Act of 1999 and subsequent related legislation are being met. 2. Research trends and practices in the sub-prime lending market in Texas and identify any issues of public concern in those markets. 3. Review the practices of financial institutions to comply with consumer privacy provisions of the Gramm-Leach-Bliley Act, and assess the ease and convenience afforded customers in exercising their choices. 5. Study the methods currently used to report pawnshop transaction data between pawn shops and law enforcement agencies. At 6:00 p.m., on the motion of the chair and without objection, the meeting was adjourned subject to the call of the chair. ________________________ Rep. Solomons, Chair ________________________ Bryan McMath, Clerk