ORS 706.720
Reports filed with director

  • public inspection of records
  • exemptions
  • confidentiality
  • forms

(1)

The Director of the Department of Consumer and Business Services shall receive and file in the Department of Consumer and Business Services all reports required by the Bank Act.

(2)

Except as provided in subsection (3) of this section and ORS 706.730 (Depositor and debtor information confidential), the records of the Department of Consumer and Business Services that pertain to the administration of the Bank Act are available for public inspection unless the director determines in a particular instance that an Oregon operating institution or the directors, stockholders, officers, employees and customers of the Oregon operating institution have an interest in keeping the records confidential that outweighs the public interest in disclosing the records, or that the records are exempt from disclosure under ORS 192.338 (Exempt and nonexempt public record to be separated), 192.345 (Public records conditionally exempt from disclosure) and 192.355 (Public records exempt from disclosure). A determination by the director under this subsection is subject to review under ORS 192.311 (Definitions for ORS 192.311 to 192.478) to 192.478 (Exemption for Judicial Department).

(3)

Except as provided in subsections (4) and (5) of this section, the following records of the department are exempt from disclosure or production and must be treated as confidential as provided in ORS 705.137 (Information that is confidential or not subject to disclosure):

(a)

Examination reports and work papers, directives, orders and correspondence that relate to examination reports.

(b)

Financial statements of and investigatory information concerning persons subject to investigation by the director under ORS 707.070 (Application for authority to organize banking institution), 707.080 (Investigation and ruling on application), 707.110 (Execution and submission of articles of incorporation), 707.140 (Submission of organization information), 707.145 (Grounds for refusing authority to organize), 707.155 (Authority to require additional investigatory information) or 707.705 (Investigation of new director, president and chief executive officer).

(c)

Proprietary information.

(d)

Reviews of financial statements submitted to the director.

(e)

Reports filed under ORS 706.655 (Records of extensions of credit by banking institutions).

(f)

Stockholder lists.

(g)

Correspondence, reports or other information obtained from or provided to the Financial Crimes Enforcement Network established by order of the United States Secretary of the Treasury.

(4)

Notwithstanding subsection (3) of this section, the director may disclose a record that is specified in this subsection and that pertains to an Oregon operating institution that has been liquidated under ORS 711.400 (Supervision of liquidation by circuit court) to 711.615 (Court filing fees) if the director determines in a particular instance that the public interest in disclosure of the record outweighs the interests of the Oregon operating institution or of the directors, stockholders, officers, employees or customers of the Oregon operating institution in keeping the record confidential. The director may not in any circumstances, however, disclose a record or a portion of a record that contains proprietary information or information that relates to a person’s financial activities or affairs unless the director concludes that the activities or affairs were a direct and substantial contributing factor in the failure of the Oregon operating institution. This subsection applies to the following records of the department:

(a)

Examination reports and work papers, directives, orders and correspondence relating to examination reports;

(b)

Investigatory information concerning persons subject to investigation by the director under ORS 707.070 (Application for authority to organize banking institution), 707.080 (Investigation and ruling on application), 707.110 (Execution and submission of articles of incorporation), 707.140 (Submission of organization information), 707.145 (Grounds for refusing authority to organize), 707.155 (Authority to require additional investigatory information) or 707.705 (Investigation of new director, president and chief executive officer);

(c)

Reviews of financial statements; and

(d)

Reports filed under ORS 706.655 (Records of extensions of credit by banking institutions).

(5)

Notwithstanding ORS 40.270 (Rule 509. Public officer privilege), an officer of the department may be examined concerning records that are exempt from disclosure under subsection (2) or (3) of this section and ORS 706.730 (Depositor and debtor information confidential). The records are subject to production if the court before which a civil or criminal action is pending finds that the examination and production is essential for establishing a claim or defense. In making a finding under this subsection, if the court views the records, the court shall do so in camera.

(6)

A civil penalty the director imposes under the Bank Act is subject to public inspection after the 20th day after the director imposes the civil penalty.

(7)

All records of the department that pertain to the condition of Oregon operating institutions may be furnished to:

(a)

The Federal Reserve Bank and examiners from the Federal Reserve Bank.

(b)

The Comptroller of the Currency of the United States and national bank examiners.

(c)

The Federal Deposit Insurance Corporation and examiners from the Federal Deposit Insurance Corporation.

(d)

The Federal Home Loan Bank of which the operating institution is a member or to which the operating institution has applied for membership.

(e)

The State Treasurer, if the Oregon operating institution is or has applied to become a depository of public fund deposits.

(f)

A supervisory authority that regulates financial institutions, financial holding companies or bank holding companies.

(g)

The respective Oregon operating institution, or the financial holding company or bank holding company that controls an Oregon operating institution.

(8)

The director shall prescribe and furnish to interested persons the forms for all reports required by the Bank Act.

(9)

If the director is requested to disclose any record subject to this section and the record contains both material that is exempt from disclosure under this section or any other provision of law and material that is not exempt from disclosure, the director shall separate the exempt and nonexempt material and shall disclose only the nonexempt material. [Amended by 1973 c.797 §43; 1975 c.515 §6; 1983 c.37 §3; 1983 c.367 §2; 1985 c.762 §33a; 1985 c.786 §14; 1987 c.373 §50a; 1993 c.318 §8; 1995 c.314 §2; 1997 c.631 §18; 1999 c.107 §2; 2001 c.377 §21; 2007 c.871 §30; 2009 c.541 §31; 2015 c.244 §12]

Source: Section 706.720 — Reports filed with director; public inspection of records; exemptions; confidentiality; forms, https://www.­oregonlegislature.­gov/bills_laws/ors/ors706.­html.

706.005
Definitions for Bank Act
706.008
Additional definitions for Bank Act
706.015
Bank Act references to federal statutes and regulations
706.500
Examination of banking institutions and non-Oregon institutions
706.515
Agreements with other bank supervisory agencies and Financial Crimes Enforcement Network
706.520
Request by directors or stockholders for examination
706.530
Annual fees paid by banking institutions and non-Oregon institutions
706.544
Costs for special examination or other actions taken
706.560
Appraisal of securities and audit
706.570
Requirement that banking institution keep books and accounts
706.575
Certificate as evidence that document is filed with director
706.578
Establishment of loan production office
706.580
Illegal, unauthorized or unsafe practices
706.600
Authority to protect creditors and depositors of banking institution or non-Oregon institution
706.610
Examiners required to report insolvency of Oregon operating institution
706.620
Records
706.630
Regular reports of condition
706.650
Delay or failure to furnish reports of condition
706.655
Records of extensions of credit by banking institutions
706.690
Transfer of stock or controlling interest
706.700
Resignation or retirement of director, president or chief executive officer
706.710
Waiver of retirement or resignation notices
706.720
Reports filed with director
706.723
Confidential documents
706.725
False statements, reports and book entries
706.730
Depositor and debtor information confidential
706.775
Enforcement of Bank Act
706.780
Notice to law enforcement officers of Bank Act violations
706.785
Attorney General to conduct actions
706.790
Rules
706.795
Rules authorizing banking institutions to exercise powers of certain financial institutions
706.815
Single account for moneys relating to supervision of Oregon operating institutions
706.980
Civil penalties
706.990
Criminal penalties
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