Texas Senate Bill SB1499

Texas 2025 - 89th Regular

• Filed: 2/20/25
• Out of Senate Committee: 3/13/25
• Voted on by Senate: 3/27/25
• Out of House Committee: 4/24/25
• Voted on by House: 4/29/25
• Governor Action: 5/13/25

Caption

Relating to the operations of the Financial Crimes Intelligence Center.

Impact

The legislation not only formalizes the existence of the Financial Crimes Intelligence Center but also details its function in terms of operation and funding. It permits the center to enter partnerships with law enforcement agencies and outlines its responsibilities in training, public outreach, and managing communication regarding payment fraud threats. This should create a more systemic approach to financial crime, which has been increasingly prevalent with the rise of technology and electronic transactions. The bill also enables annual reporting on the state of payment fraud in Texas.

Summary

SB1499 establishes the Financial Crimes Intelligence Center in Texas, aimed at coordinating efforts among law enforcement and related agencies to tackle issues of payment fraud, including the use of skimming devices. The bill seeks to enhance the capabilities of these agencies in detecting, preventing, and responding to crime related to credit and debit card fraud, thereby strengthening financial security within the state. By centralizing efforts through this dedicated center, the legislation intends to facilitate collaboration across various sectors involved in financial crime prevention.

Sentiment

The sentiment surrounding SB1499 appears largely supportive, especially among stakeholder groups that prioritize financial security and public safety. The clear delineation of the center's responsibilities and its anticipated role in mitigating financial crimes has garnered positive responses from law enforcement agencies and financial institutions alike. Supporters argue that it represents a proactive step toward securing the financial landscape against sophisticated fraudulent schemes.

Contention

While there seems to be broad support for the establishment of the Financial Crimes Intelligence Center, some voices in the discussion may question the implications of increased state oversight in matters that some believe could be better managed at the local level. Concerns about the balance between necessary regulation and potential overreach could arise as the bill is implemented, particularly in how various agencies collaborate and share sensitive information. However, the consensus is generally in favor of the bill's intent and structure.

Texas Constitutional Statutes Affected

Occupations Code

• Chapter 2312. Financial Crimes Intelligence Center
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