Bill > HB0110

This bill amends Tennessee banking regulations by empowering the state banking commissioner to determine deposit insurance requirements for state banks with greater flexibility. Specifically, the bill allows the commissioner to decide the type, amount, and other characteristics of deposit insurance each state bank must maintain, based on a comprehensive set of considerations including the bank's safety and soundness, its potential to contribute to the state's economic progress, public confidence in the banking system, input from the banking industry, and any other factors the commissioner deems relevant. The bill also grants the commissioner authority to create administrative rules for implementing these provisions, with the requirement that such rules be developed in accordance with the Uniform Administrative Procedures Act. The legislation is set to take effect on July 1, 2025, and appears designed to provide regulatory authorities with more nuanced oversight of state bank deposit insurance, potentially allowing for more tailored and responsive regulatory approaches that can adapt to changing economic conditions.

Business and Industry, Government Affairs

https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=HB0110&ga=114