Senate Bill No. 92, introduced by Senator Foil, amends the existing law regarding the disclosure of financial records by banks and their affiliates. The bill specifically addresses the conditions under which financial records can be disclosed, particularly in relation to subpoenas and court orders. It retains the current provisions that allow for disclosure in connection with federal or state grand jury proceedings and state criminal investigations.

The key change introduced by this bill is the addition of a new exception that permits the disclosure of financial records pursuant to a subpoena issued by the state inspector general or designated staff members. This amendment aims to enhance the oversight and accountability of financial institutions while ensuring compliance with legal investigations. The effective date for this legislation is set for August 1, 2025.

Statutes affected:
SB92 Original: 6:333(F)(13)
SB92 Engrossed: 6:333(F)(13)