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

Introduced By

Sen. Richard Stuart (R-Westmoreland)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


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 »


Bill Has Passed


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)
02/20/2013Bill 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)


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.