HB1459 - Tennessee: Banks And Financial Institutions, Credit And Debit Cards

Companion Bill SB1871. Banks and Financial Institutions - Authorizes a money transmitter licensed pursuant to title 45, chapter 7 with a net worth of over $25 million dollars to organize and own or control a credit card state bank in Tennessee; specifies that authorization for holding companies to organize, own, and control credit card state banks includes domestic holding companies. - Amends TCA Title 45, Chapter 2 and Title 45, Chapter 7. Fiscal Summary for HB1459 / *SB1871Increase State Revenues - Net Impact - Not Significant / Dept. of Financial Institutions Increase State Expenditures - Not Significant Bill Summary for HB1459 / *SB1871 Present law authorizes any domestic lender, foreign lender, or holding company to organize, own, and control a credit card state bank. Present law defines a "domestic holding company" [...]

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