2015 ORS 706.720¹
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 192.501 (Public records conditionally exempt from disclosure) to 192.505 (Exempt and nonexempt public record to be separated). A determination by the director under this subsection is subject to review under ORS 192.410 (Definitions for ORS 192.410 to 192.505) to 192.505 (Exempt and nonexempt public record to be separated).

(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]

Chapter 706

Atty. Gen. Opinions

Applicability of licensing and registra­tion require­ments under Bank Act to loan solicita­tion office operating in Oregon, (1985) Vol 44, p 378


1 Legislative Counsel Committee, CHAPTER 706—Administration and Enforcement of Banking Laws Generally, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors706.­html (2015) (last ac­cessed Jul. 16, 2016).
 
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2015, Chapter 706, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ano706.­html (2015) (last ac­cessed Jul. 16, 2016).
 
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent.