March 20, 2008
During the 80th Regular Session of the Texas Legislature, Representative Helen Giddings sponsored HB 2002, creating an electronic notification system that requires your bank, upon proper request by a customer, to alert check verification entities that the customer has closed an account because of actual fraud or compromised financial information. To implement this program, every bank, savings bank, and credit union maintaining an office, branch, or agency office in this state must register with the Department of Banking, which is administering the system. HB 2002 makes no distinction between state and federally chartered financial institutions. The Department has dubbed the system “CANS” (Closed Account Notification System) and had it operating on schedule on March 1, 2008. Your bank should have registered with the Department prior to March 1. There is no fee to register and no penalty for registering late.
As a service to our members, we have posted on our Web site a March 18th press release from Helen Giddings and a March 18th memo from the Banking Commissioner. You can cut and paste or click the following links to read the press release and memo:
The best place to learn more about CANS is at the CANS page on the Department’s website.
To communicate with someone about registering for CANS, you may contact Wendy Rodriguez at 512-475-1320, or email firstname.lastname@example.org.