TBA Applauds Passage of Bill to Strengthen Anti-Fraud Center

Financial Crimes Intelligence Center in Tyler is a National Model

FOR IMMEDIATE RELEASE:

May 15, 2025

(AUSTIN) – The Texas Bankers Association (TBA) today applauded the Texas Legislature for passing Senate Bill 1499, a major step forward in the fight against financial crime. The bill, sponsored by Sen. Robert Nichols, expands and strengthens the Financial Crimes Intelligence Center (FCIC) located in Tyler — establishing it as the state’s central hub for coordinating efforts to detect, prevent, and respond to payment fraud, including card skimming, check fraud, and unauthorized electronic transactions. Gov. Greg Abbott has signed the bill into law, and it will take effect on September 1, 2025.

SB 1499, championed by Texas bankers, empowers the FCIC to work directly with law enforcement, financial institutions, merchants, and state and federal partners on all types of payment fraud.

Statement from Chris Furlow, President & CEO, Texas Bankers Association:
“In passing SB 1499, the Legislature is sending the message that, if you commit fraud and financial crimes in Texas, law enforcement is coming for you. Organized financial crimes and international crime groups have become more sophisticated, and this legislation gives the FCIC and state the ability to respond with enhanced coordination, better tools, and real-time intelligence.

By strengthening the Financial Crimes Intelligence Center, Texas is expanding an already successful partnership between FCIC, community banks, other financial institutions and merchants to build a smarter, faster, and more unified front against financial crime.

The Texas Bankers Association team has been proud to work with Director Adam Colby of the FCIC and Sen. Nichols. We thank them for their leadership and we are grateful to Gov. Abbott for quickly signing SB 1499 into law. This is a win for Texas consumers, for law enforcement, and for community banks that work every day to keep customers and their money safe.”

FCIC Director, Adam Colby, said of the new legislation:

“The way that we operate is a new concept and there is no other center in the country, and as far as I can tell the entire world, that can do what we do and operates in the manner that we operate. Texas is truly what led the way for the rest of the country with other states looking to emulate our model. This bill simply mandates that we do what we are really already getting involved in, and continue to expand our ability to protect Texans.”

TBA will continue working closely with the FCIC and member banks to support the implementation of SB 1499 and further strengthen fraud prevention efforts statewide.

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