§ 2-117.1. Confidentiality of information obtained in the course of Commissioner’s examination ...
West's Annotated Code of MarylandFinancial InstitutionsEffective: July 1, 2016
Effective: July 1, 2016
MD Code, Financial Institutions, § 2-117.1
§ 2-117.1. Confidentiality of information obtained in the course of Commissioner’s examination of banking institution or credit union
(a) This section does not apply to information relating to publicly adjudicated disciplinary or enforcement actions against banking institutions or credit unions and designated by the Commissioner for access to the public.
(b) Except as otherwise provided in this article:
(c) The Commissioner and an employee of and the attorney for the Commissioner's office may disclose the information described in subsection (b) of this section:
(d) Subject to subsections (e), (f), and (j) of this section, and notwithstanding any other provision of State law, the Commissioner may:
(1) Enter into information sharing agreements with any federal or state regulatory agency having authority over banking institutions or credit unions, a federal home loan bank, or any federal or state law enforcement agency, including the Office of Foreign Asset Control, and any successor to these agencies, provided that the agreements prohibit the agencies from disclosing any shared information about a banking institution or credit union without the prior written consent from the Commissioner regarding disclosure of the particular information; and
(2) Exchange information about a banking institution or a credit union, including information obtained or generated during an examination, with any federal or other state's regulatory agency having authority over the banking institution or credit union or with any federal or state law enforcement agency.
(e) Information shared by the Commissioner under subsection (d) of this section may not be disclosed by an agency under federal or other states' laws governing the disclosure of public information, or by subpoena, discovery, or admission into evidence in private civil litigation or administrative process, without the prior written consent of the Commissioner.
(f) If the Commissioner receives a record from an agency under an information sharing agreement authorized by subsection (d)(1) of this section and the agency expressly retains ownership of the record, either in writing or by law or regulation, the Commissioner:
(g) Any provision of Title 4, Subtitles 1 through 5 of the General Provisions Article relating to the disclosure of any information described in subsection (b) of this section shall be superseded by the requirements of this section.
(h) Except as otherwise provided in this section, all information disclosed by the Commissioner or an employee of or the attorney for the Commissioner's office to any person as permitted under subsections (c) and (d) of this section:
(i) A person who violates any provision of this section is guilty of a misdemeanor and on conviction is subject to:
Credits
Added by Acts 2016, c. 478, § 1, eff. July 1, 2016.
MD Code, Financial Institutions, § 2-117.1, MD FIN INST § 2-117.1
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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