By: Parker S.B. No. 1224
A BILL TO BE ENTITLED
AN ACT
1-1 relating to confidential information of or provided by The Banking
1-2 Department of Texas.
1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-4 SECTION 1. Article 10, Chapter II, The Texas Banking Code
1-5 (Article 342-210, Vernon's Texas Civil Statutes), is amended by
1-6 amending Subsection (a) and adding Subsection (e) to read as
1-7 follows:
1-8 (a) Subject to the provisions of Section 5 of Chapter 183 of
1-9 the Forty-fourth Legislature of Texas (1935), page 461 (Article
1-10 489b, Section 5), and any other statutory provision of this State,
1-11 all information obtained, either directly or indirectly, by the
1-12 Banking Department relative to the financial condition of any bank
1-13 or bank holding company other than call reports and profit and loss
1-14 statements, whether obtained through examination or otherwise,
1-15 except published statements, and all files and records of said
1-16 Department relative thereto shall be confidential, and shall not be
1-17 disclosed by the Banking Commissioner or any officer or employee of
1-18 said Department. Further provided that no such information shall
1-19 be divulged to any member of the Finance Commission, nor shall any
1-20 member of the Finance Commission be given access to such files and
1-21 records of the Banking Department; provided, however, that the
1-22 Banking Commissioner may disclose to the Finance Commission or to
1-23 the State Banking Board information, files and records pertinent to
1-24 any hearing or matter pending before such Commission or such Board.
2-1 Further provided that upon request, the Banking Commissioner may
2-2 disclose to a Federal Reserve Bank any information relative to its
2-3 members, and shall permit it access to any files and records or
2-4 reports relating to its members. Further provided that the Banking
2-5 Commissioner may, in the Banking Commissioner's <his> discretion,
2-6 if the Banking Commissioner <he> deems it necessary or proper to
2-7 the enforcement of the laws of this State, another state, <or> the
2-8 United States, or a foreign country, and to the best interest of
2-9 the public, divulge such information to any other department of
2-10 this State, another state, <or> the National Government, a foreign
2-11 government, or any agency or instrumentality thereof.
2-12 (e) Information, files, and records of the Banking
2-13 Department, including examination reports, that are confidential
2-14 under Subsection (a) of this article and that are provided by the
2-15 Banking Department to a bank or bank holding company remain
2-16 confidential and may not be disclosed by the bank, the bank holding
2-17 company, or an officer, director, employee, or agent of the bank or
2-18 bank holding company or used as evidence in a legal proceeding.
2-19 Notwithstanding Section 22.004, Government Code, this subsection
2-20 may not be modified or repealed by a rule adopted by the supreme
2-21 court.
2-22 SECTION 2. The importance of this legislation and the
2-23 crowded condition of the calendars in both houses create an
2-24 emergency and an imperative public necessity that the
2-25 constitutional rule requiring bills to be read on three several
2-26 days in each house be suspended, and this rule is hereby suspended,
2-27 and that this Act take effect and be in force from and after its
3-1 passage, and it is so enacted.