Substitute Senate Bill No. 9

Public Act No. 00-123

An Act Concerning Confidential Records Of The Department Of Banking.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

Section 36a-21 of the general statutes is repealed and the following is substituted in lieu thereof:

[(a) All information obtained by the commissioner or by any employee of the Department of Banking shall be confidential except such as should, in the opinion of the commissioner, be imparted in the performance of official duties.]

(a) Notwithstanding any provision of state law and except as provided in subsection (b) of this section, the following records of the Department of Banking shall not be disclosed by the commissioner or any employee of the Department of Banking, or be subject to public inspection or discovery:

(1) Examination and investigation reports and information contained in or derived from such reports, including examination reports prepared by the commissioner or prepared on behalf of or for the use of the commissioner;

(2) Confidential supervisory or investigative information obtained from a state, federal or foreign regulatory or law enforcement agency; and

(3) Information obtained, collected or prepared in connection with examinations, inspections or investigations, and complaints from the public received by the Department of Banking, if such records are protected from disclosure under federal or state law or, in the opinion of the commissioner, such records would disclose, or would reasonably lead to the disclosure of: (A) Investigative information the disclosure of which would be prejudicial to such investigation, until such time as the investigation and all related administrative and legal actions are concluded; (B) personal or financial information, including account or loan information, without the written consent of the person or persons to whom the information pertains; or (C) information that would harm the reputation of any person or affect the safety and soundness of any person whose activities in this state are subject to the supervision of the commissioner, and the disclosure of such information under this subparagraph would not be in the public interest.

[(b) Examination, operating or condition reports prepared by the commissioner or prepared on behalf of or for the use of the commissioner shall be confidential unless otherwise a matter of public record and no information contained therein shall, except with the prior written consent of the commissioner, be disclosed or otherwise made public by any director, officer, employee or agent of any financial institution, as defined in section 36a-41, about which such report was prepared.]

(b) The commissioner may, without waiving any privilege, disclose the records described in subsection (a) of this section for any appropriate supervisory, governmental, law enforcement or other public purpose. Any such disclosure shall be made under safeguards designed to prevent further dissemination of such records. In any proceeding before a court, the court may issue a protective order in appropriate circumstances to protect the confidentiality of any such record and order that any such record on file with the court or filed in connection with the court proceeding be sealed and that the public be excluded from any portion of the proceeding at which any such record is disclosed.

(c) No director, officer, employee or agent of any Connecticut bank or Connecticut credit union shall disclose without the prior written consent of the commissioner any information contained in an examination report about such bank or credit union, which information is not otherwise a matter of public record.

Approved May 26, 2000