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HB943 • 2026

Commissioner of Banking and Consumer Finance; delete repealer on authority to join certain examinations with the Federal Reserve Bank.

AN ACT TO AMEND SECTION 81-1-81, MISSISSIPPI CODE OF 1972, TO DELETE THE REPEALER ON THE PROVISION OF LAW AUTHORIZING THE COMMISSIONER OF BANKING AND CONSUMER FINANCE TO JOIN AN EXAMINATION OR ISSUE A JOINT REPORT OF EXAMINATION WITH THE FEDERAL RESERVE BANK OF CERTAIN BANK HOLDING COMPANIES; AND FOR RELATED PURPOSES.

Did Not Pass

The latest official action shows that this bill did not move forward in that session.

Sponsor
Shanks
Last action
2026-03-03
Official status
Dead
Effective date
July 1, 20

Plain English Breakdown

The bill did not pass, so its effects are hypothetical.

Remove Repealer on Banking Commissioner's Joint Examination Authority

This bill removes a repealing clause that would have ended the commissioner of banking and consumer finance’s ability to join examinations or issue joint reports with the Federal Reserve Bank for certain bank holding companies.

What This Bill Does

  • Removes a part of the law that was going to end the commissioner's power to work together on exams with the Federal Reserve Bank for big banks in Mississippi.

Who It Names or Affects

  • The Commissioner of Banking and Consumer Finance in Mississippi
  • Bank holding companies with over one billion dollars in assets that own a Mississippi state-chartered bank

Terms To Know

Commissioner of Banking and Consumer Finance
A person who oversees the banking system and consumer finance issues in Mississippi.
Bank Holding Company
A company that owns or controls a bank, often with other financial interests as well.

Limits and Unknowns

  • The bill did not pass during the session it was introduced.
  • It only affects certain large banks in Mississippi that have over one billion dollars in assets and own state-chartered banks there.

Bill History

  1. 2026-03-03 Mississippi Legislative Bill Status System

    03/03 (S) Died In Committee

  2. 2026-02-18 Mississippi Legislative Bill Status System

    02/18 (S) Referred To Business and Financial Institutions

  3. 2026-02-11 Mississippi Legislative Bill Status System

    02/11 (H) Transmitted To Senate

  4. 2026-02-10 Mississippi Legislative Bill Status System

    02/10 (H) Passed

  5. 2026-02-10 Mississippi Legislative Bill Status System

    02/10 (H) Committee Substitute Adopted

  6. 2026-01-29 Mississippi Legislative Bill Status System

    01/29 (H) Title Suff Do Pass Comm Sub

  7. 2026-01-16 Mississippi Legislative Bill Status System

    01/16 (H) Referred To Banking and Financial Services

Official Summary Text

Commissioner of Banking and Consumer Finance; delete repealer on authority to join certain examinations with the Federal Reserve Bank.

Current Bill Text

Read the full stored bill text 
H. B. No. 943 *HR26/R447CS* ~ OFFICIAL ~ G1/2
26/HR26/R447CS
PAGE 1 (ELS\KW)

To: Banking and Financial
Services
MISSISSIPPI LEGISLATURE REGULAR SESSION 2026

By: Representative Shanks

COMMITTEE SUBSTITUTE
FOR
HOUSE BILL NO. 943

AN ACT TO AMEND SECTION 81-1-81, MISSISSIPPI CODE OF 1972, TO 1
DELETE THE REPEALER ON THE PROVISION OF LAW AUTHORIZING THE 2
COMMISSIONER OF BANKING AND CONSUMER FINANCE TO JOIN AN 3
EXAMINATION OR ISSUE A JOINT REPORT OF EXAMINATION WITH THE 4
FEDERAL RESERVE BANK OF CERTAIN BANK HOLDING COMPANIES; AND FOR 5
RELATED PURPOSES. 6
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI: 7
SECTION 1. Section 81-1-81, Mississippi Code of 1972, is 8
amended as follows: 9
81-1-81. (1) It shall be the duty of the commissioner to 10
apportion the work of examining banks among the examiners in such 11
a way that each bank, under the provisions of law, shall be 12
examined at least once during an eighteen-month period and more 13
often, if necessary, in the discretion of the commissioner, at 14
irregular intervals and without prior notice. However, neither 15
the commissioner nor any examiner shall examine one (1) bank twice 16
in succession unless the commissioner, for cause, so determines. 17
In the event the commissioner's office, because of workload or 18
other good sufficient cause, is unable to conduct an examination 19
of a bank as provided for in this section, the commissioner 20
H. B. No. 943 *HR26/R447CS* ~ OFFICIAL ~
26/HR26/R447CS
PAGE 2 (ELS\KW)
ST: Commissioner of Banking and Consumer
Finance; delete repealer on authority to join
certain examinations with the Federal Reserve
Bank.
is * * * authorized to accept the examination of any state bank 21
performed by the Federal Deposit Insurance Corporation or the 22
Federal Reserve Bank in lieu of the examination provided for in 23
this section. However, in no case shall the commissioner be 24
authorized to accept any such examination of any state bank 25
performed by either the Federal Deposit Insurance Corporation or 26
the Federal Reserve Bank for any two (2) consecutive 27
eighteen-month periods. 28
(2) The commissioner may join an examination and/or issue a 29
joint report of examination with the Federal Reserve Bank of any 30
bank holding company, including any foreign-owned bank holding 31
company, with more than One Billion Dollars ($1,000,000,000.00) in 32
assets that owns a Mississippi state-chartered bank. The 33
commissioner shall not perform an examination independent of the 34
Federal Reserve Bank. The commissioner may accept any examination 35
report of a bank holding company performed solely by the Federal 36
Reserve Bank in lieu of conducting a joint examination. Further, 37
the commissioner may join in related supervisory orders issued by 38
the Federal Reserve Bank. There shall be no cost to a bank or a 39
bank holding company as a result of the commissioner's 40
participation in a joint examination of a bank holding company as 41
authorized by this subsection. * * * 42
SECTION 2. This act shall take effect and be in force from 43
and after July 1, 2026. 44