NOTICE OF PUBLIC HEARING

COMMITTEE: Financial Institutions

TIME & DATE:  9:30AM, Tuesday, June 20, 2006

PLACE: Capitol E2.012

CHAIR: Rep. Burt R. Solomons

The Committee will meet to hear invited testimony on Interim Charges 1 & 2:

1. Examine the feasibility and impact of consolidating the state financial
regulatory agencies which include the Office of Consumer Credit
Commissioner, Texas Department of Banking, Department of Savings &
Mortgage Lending, and the Texas Credit Union Department.

2. Evaluate predatory lending practices involved with subprime mortgage
lending within the state, primarily in the border counties, including:
* Study the patterns of mortgage fraud and develop statutory changes to
reduce incidences of mortgage fraud and punish violators.
* Study the relationship between mortgage brokers and residential
borrowers including: whether or not the mortgage broker is the agent
of the residential borrower; the types of disclosures which should
be required; and, the sources and nature of compensation.