Banks and Financial Institutions - As introduced, prohibits a bank from digitizing or otherwise converting money held by the bank on behalf of a consumer into a digital currency, digital medium of exchange, or digital monetary unit of account, including cryptocurrency, without express, written authorization from the consumer for whom the money is held. - Amends TCA Title 45.

HB 2060 prohibits Tennessee banks, credit unions, and savings associations from converting consumer funds into digital money like cryptocurrency without the customer's explicit written consent. It directly affects consumers whose money is held by these financial institutions, requiring banks to obtain prior authorization before using digital currencies. Violating this rule could result in fines up to $1,000 per violation or civil lawsuits where affected customers may recover actual damages, punitive damages, and legal fees. The law takes effect July 1, 2026.