Voluntary regulatory self-assessments by banks; privilege. (SB988)

Introduced By

Sen. Richard Stuart (R-Westmoreland)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Voluntary regulatory self-assessments by banks; privilege. Creates a privilege for information generated from a voluntary regulatory self-assessment conducted by a bank or its holding company, affiliates, and subsidiaries. The privilege applies to any document prepared in connection with a voluntary, self-initiated internal assessment, audit, or review of a bank and its practices, policies, and procedures or the practices, policies, and procedures of the bank's service provider. The privilege makes a self-assessment report inadmissible in any legal or investigative action in any civil or administrative proceeding and exempts it from discovery. The privilege shall not apply if it is waived; if it is determined that the privilege is being asserted for a fraudulent purpose or that the report was prepared to avoid disclosure of information in a proceeding that was underway at the time of its preparation, or it is found that a condition exists that demonstrates imminent and substantial harm to bank customers or consumers; or if it involves information in the possession of a bank regulator and is subject to public disclosure. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/08/2013Prefiled and ordered printed; offered 01/09/13
01/08/2013Prefiled and ordered printed; offered 01/09/13 13103323D
01/08/2013Referred to Committee on Commerce and Labor
01/13/2013Impact statement from SCC (SB988)
01/28/2013Reported from Commerce and Labor with substitute (14-Y 0-N) (see vote tally)
01/28/2013Committee substitute printed 13104359D-S1
01/30/2013Constitutional reading dispensed (40-Y 0-N) (see vote tally)
01/30/2013Impact statement from SCC (SB988S1)
01/31/2013Read second time
01/31/2013Reading of substitute waived
01/31/2013Committee substitute agreed to 13104359D-S1
01/31/2013Engrossed by Senate - committee substitute SB988S1
02/01/2013Bills placed in block (39-Y 0-N) (see vote tally)
02/01/2013Read third time and passed Senate (39-Y 0-N) (see vote tally)
02/06/2013Placed on Calendar
02/06/2013Read first time
02/06/2013Referred to Committee on Commerce and Labor
02/12/2013Reported from Commerce and Labor (22-Y 0-N) (see vote tally)
02/14/2013Read second time
02/15/2013Read third time
02/15/2013Passed House BLOCK VOTE (100-Y 0-N)
02/15/2013VOTE: BLOCK VOTE PASSAGE (100-Y 0-N) (see vote tally)
02/20/2013Enrolled
02/20/2013Bill text as passed Senate and House (SB988ER)
02/20/2013Signed by Speaker
02/21/2013Impact statement from SCC (SB988ER)
02/21/2013Signed by President
03/12/2013G Approved by Governor-Chapter 148 (effective 7/1/13)
03/12/2013G Acts of Assembly Chapter text (CHAP0148)

Video

This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 1 clip in all, totaling 35 seconds.