§ 2095.22. Supervisory information sharing
Oklahoma Statutes AnnotatedTitle 59. Professions and Occupations
59 Okl.St.Ann. § 2095.22
§ 2095.22. Supervisory information sharing
In order to promote more effective regulation and reduce regulatory burden through supervisory information sharing:
1. Except as otherwise provided in 12 U.S.C., Section 5111, the requirements under federal or Oklahoma law, regarding the privacy or confidentiality of any information or material provided to the Nationwide Mortgage Licensing System and Registry and any privilege arising under federal or state law, including the rules of any federal or state court, with respect to such information or material, shall continue to apply to such information or material after the information or material has been disclosed to the Nationwide Mortgage Licensing System and Registry. Such information and material may be shared with all state and federal regulatory officials with mortgage industry oversight authority without the loss of privilege or the loss of confidentiality protections provided by federal or Oklahoma law.
2. For these purposes, the Administrator of Consumer Credit is authorized to enter into agreements or sharing arrangements with other governmental agencies, the Conference of State Bank Supervisors, the American Association of Residential Mortgage Regulators or other associations representing governmental agencies.
b. subpoena or discovery, or admission into evidence, in any private civil action or administrative process, unless with respect to any privilege held by the Nationwide Mortgage Licensing System and Registry with respect to such information or material, the entity or individual to whom such information or material pertains waives, in whole or in part, in the discretion of such entity or individual, that privilege.
5. This section shall not apply with respect to the information or material relating to the employment history of and publicly adjudicated disciplinary and enforcement actions against mortgage brokers and mortgage loan originators that is included in the Nationwide Mortgage Licensing System and Registry for access by the public.
Credits
Laws 2009, c. 190, § 25, eff. July 1, 2009.
59 Okl. St. Ann. § 2095.22, OK ST T. 59 § 2095.22
Current with emergency effective legislation through Chapter 257 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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