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Can you summarize ORRS 706.720?
Administration and Enforcement of Banking Laws Generally > Reports filed with director; public inspection of records; exemptions; confidentiality; forms.
Short Summary
This legal document pertains to the administration and enforcement of banking laws in Oregon. The Director of the Department of Consumer and Business Services is responsible for receiving and filing all reports required by the Bank Act. The records of the Department of Consumer and Business Services related to the administration of the Bank Act are generally available for public inspection, unless the director determines that there is a greater interest in keeping the records confidential. Certain records, such as examination reports, work papers, financial statements, proprietary information, and reports filed under ORS 706.655, are exempt from disclosure or production and must be treated as confidential. However, the director may disclose exempt records if the public interest outweighs the interests of the Oregon operating institution or its stakeholders. The director is also authorized to provide records to various entities, including federal regulatory bodies and the respective Oregon operating institution. The director is responsible for prescribing and furnishing forms for all reports required by the Bank Act.
Whom does it apply to?
Oregon operating institutions, directors, stockholders, officers, employees, customers, Federal Reserve Bank, examiners from the Federal Reserve Bank, Comptroller of the Currency of the United States, national bank examiners, Federal Deposit Insurance Corporation, examiners from the Federal Deposit Insurance Corporation, Federal Home Loan Bank, State Treasurer, supervisory authority that regulates financial institutions, financial holding companies, bank holding companies, financial holding company or bank holding company that controls an Oregon operating institution
What does it govern?
Administration and enforcement of banking laws generally
What are exemptions?
Examination reports and work papers, directives, orders, and correspondence relating to examination reports; investigatory information concerning persons subject to investigation by the director; reviews of financial statements; reports filed under ORS 706.655
What are the Penalties?
Not specified
Jurisdiction
Oregon