ORS 706.515
Agreements with other bank supervisory agencies and Financial Crimes Enforcement Network

  • contracts for use of bank examiners
  • joint examination or enforcement
  • fees

(1)

The Director of the Department of Consumer and Business Services may enter into cooperative, coordinating and information sharing agreements with other bank supervisory agencies, with the Financial Crimes Enforcement Network established by order of the United States Secretary of the Treasury or with an organization affiliated with or representing one or more bank supervisory agencies. The director may enter into the agreements in order to examine or supervise a non-Oregon institution branch or other office or place of business located in this state or to examine or supervise a branch of a banking institution located in another state. The director may accept an agency report made pursuant to an agreement entered into under this section in lieu of the director’s own examination or investigation. The agreement may resolve conflicts of laws and specify the manner in which examination, supervision and application processes will be coordinated between this state and the home state of the non-Oregon institution.

(2)

The director may enter into a contract with a bank supervisory agency that has concurrent jurisdiction over a banking institution or non-Oregon institution operating a branch or other office or place of business in this state to engage the services of the agency’s examiners at a reasonable rate of compensation or to provide the services of the director’s examiners to the agency at a reasonable rate of compensation. The contract is exempt from competitive bidding requirements under the provisions of ORS chapters 279A and 279B. The contract may resolve conflicts of laws and specify the manner in which examination, supervision and application processes will be coordinated between this state and the home state of the non-Oregon institution.

(3)

The director may enter into joint examinations or joint enforcement actions with other bank supervisory agencies that have concurrent jurisdiction over a non-Oregon institution branch or other office or place of business located in this state or a branch of a banking institution located in another state. Conducting a joint examination or enforcement action under this section does not prevent the director from conducting an independent examination or enforcement action at any time if the director determines that carrying out the director’s responsibilities or ensuring compliance with the laws of this state requires the independent action. With respect to examinations or enforcement actions that involve non-Oregon institutions, the director shall recognize:

(a)

The exclusive authority of the banking supervisory agency of the home state or country of the non-Oregon institution over corporate governance matters; and

(b)

The primary responsibility of the banking supervisory agency of the home state or country of the non-Oregon institution over safety and soundness matters.

(4)

The director may share fees collected from non-Oregon institutions under the provisions of the Bank Act with another bank supervisory agency or an organization affiliated with or representing one or more bank supervisory agencies in accordance with agreements between the agency or organization and the director. [1997 c.631 §27; 2003 c.794 §323; 2009 c.541 §29]

Source: Section 706.515 — Agreements with other bank supervisory agencies and Financial Crimes Enforcement Network; contracts for use of bank examiners; joint examination or enforcement; fees, 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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