87S30568 JES-D
 
  By: Springer, et al. S.B. No. 50
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to prohibiting the disclosure of certain customer account
  information by a financial institution.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Subtitle Z, Title 3, Finance Code, is amended by
  adding Chapter 282 to read as follows:
  CHAPTER 282. DISCLOSURE OF CUSTOMER ACCOUNT INFORMATION
         Sec. 282.0001.  DEFINITIONS. In this chapter:
               (1)  "Customer account" means a checking account,
  savings account, or other financial account that is:
                     (A)  created by the deposit of money;
                     (B)  subject to the withdrawal of money; and
                     (C)  maintained by a financial institution on
  behalf of a business or individual.
               (2)  "Financial institution" has the meaning assigned
  by Section 201.101.
         Sec. 282.0002.  DISCLOSURE OF CERTAIN CUSTOMER ACCOUNT
  INFORMATION PROHIBITED. A financial institution may not comply
  with a requirement under federal law to disclose to the United
  States Department of the Treasury the gross annual inflow or gross
  annual outflow of money in a customer account, including a customer
  account that:
               (1)  has a balance of more than $600 at the end of the
  year; or
               (2)  is used for a transaction of more than $600 during
  the year. 
         SECTION 2.  This Act takes effect on the 91st day after the
  last day of the legislative session.