TX Banking Department Reduces Quarterly Assessment
The Texas Department of Banking is committed to fiscal responsibility and conducts comprehensive budget reviews to calculate the minimum required assessment to meet our financial responsibilities.
Based on the most recent review, Commissioner Charles G. Cooper announced today that the 2021 quarterly assessment for the period of June – August is being reduced 56% for all Texas state- chartered banks and foreign bank agencies and branches. Reductions in expenses such as travel due to COVID-19 limitations, sustained growth of state-chartered banks in Texas, and other agency efficiencies are the primary factors that led to the reduction this fiscal year.
The Department, which is headquartered in Austin, staffs approximately one hundred field examiners who operate from one of the four regional offices in Dallas, Houston, San Antonio, and Lubbock. As of July 28, 2021, Texas had 216 state-chartered banks controlling over $354 billion in assets. Additional information about the Texas Department of Banking can be found on their website.
Read the full press release HERE.