412:2-104 Confidentiality of information possessed by commissioner. (a) The commissioner and all employees, contractors, attorneys retained or employed by the State, and appointees of the division of financial institutions shall not divulge or furnish any information in their possession or obtained by them in the course of their official duties to persons outside the division of financial institutions, except to the director of commerce and consumer affairs or unless otherwise permitted by this section or any other law regulating financial institutions or financial institution holding companies, in which case that disclosure shall not authorize or permit any further disclosure of that information. The disclosures prohibited by this subsection shall include without limitation information that is:

(1) Privileged or exempt from disclosure under any federal or state law;

(2) Related to an examination performed by or on behalf of the commissioner or contained in any report of examination;

(3) Contained in any report submitted to or for the use of the commissioner, except for the nonproprietary portions of applications;

(4) Related to the business, personal, or financial affairs of any person that is furnished to or for the use of the commissioner in confidence;

(5) Related to trade secrets and commercial or financial information obtained from a person that is privileged or confidential;

(6) Obtained pursuant to any lawful investigation for the purpose of enforcing the laws regulating financial institutions and financial institution holding companies in an action or proceeding under parts III, IV, V, and VI of this article;

(7) Related solely to the internal personnel rules or other internal practices of the commissioner;

(8) Contained in personnel, medical, and similar files (including financial files), the disclosure of which would constitute a clearly unwarranted invasion of personal privacy; or

(9) Contained in inter-agency and intra-agency communications, whether or not contained in written memoranda, letters, tapes, or records that would not be routinely available by law to a private party, including but not limited to memoranda, reports, and other documents prepared by the staff of the commissioner.

Any information identified in paragraphs (1) through (9) is confidential and shall not be subject to subpoena or other legal process.

(b) The commissioner shall furnish a copy of each report of examination to the financial institution or financial institution holding company examined. The report and its contents shall remain the property of the commissioner and shall not be disclosed to any person who is not an officer, director, employee, or authorized auditor, attorney, or other consultant or advisor of the financial institution or financial institution holding company. Any person who has received the report from the financial institution or financial institution holding company shall be bound by the confidentiality provisions of this part. The report and its contents shall not be subject to subpoena or other legal process requiring disclosure.

(c) The commissioner may furnish reports of examination and other information relating to the examination of a financial institution or financial institution holding company to:

(1) The governor, attorney general and the heads of other state governmental agencies having regulatory authority over the financial institution or financial institution holding company;

(2) The appropriate federal regulatory agencies of the financial institution or financial institution holding company;

(3) The Office of Comptroller of the Currency, the Federal Housing Finance Board or a federal, state, or foreign bank regulatory agency if the requesting agency agrees to use the information only for functions directly related to the exercise of its appropriate supervisory authority; and

(4) Other agencies of the United States or a state for use where necessary to investigate civil or criminal charges in connection with the affairs of any financial institution or financial institution holding company under the supervision of the commissioner.

(d) Upon the request of the financial institution or financial institution holding company, and pursuant to a proper showing of cause, the commissioner may furnish examination reports, or portions thereof, and other information relating to that financial institution or financial institution holding company (1) in instances other than those set forth in subsection (c), or (2) to persons not enumerated in subsection (c), including to prospective acquirers of the Hawaii financial institution or financial institution holding company. The decision to grant a request under this subsection shall be in the sole discretion of the commissioner.

(e) All reports or other information made available pursuant to this section shall remain the property of the commissioner, and no person, financial institution or financial institution holding company, agency or authority to whom the information is made available, or any officer, director, employee or agent thereof, shall disclose any of that information, except for the publishing of aggregate statistical material that would not disclose the identity of any person, financial institution or financial institution holding company. In exchanging reports or other information permitted in this section, the commissioner shall require the person receiving the report, as a condition of receipt, to comply with the confidentiality provisions of this section.

(f) The commissioner may provide information regarding trends and issues affecting financial institutions and may make available to the public a combined statement of the condition of Hawaii financial institutions in such form as the commissioner may see fit, using information derived from reports furnished to the commissioner by the Hawaii financial institutions. The commissioner may also disclose statistical data regarding the number of consumer complaints filed against an institution, the general nature of the complaint and the resolution of the complaint.

(g) Any person who violates this section shall be guilty of a misdemeanor punishable pursuant to sections 706-663 and 706640. Such person shall also be subject to an administrative fine pursuant to section 412:2-609. If such person is an employee, contractor or appointee of the State, such person shall be subject to immediate dismissal or termination proceedings without violating such person's contract, if any. [L 1993, c 350, pt of 1; am L 2006, c 228, 5]

 

Cross References

 

Required reports privileged by statute, see 626-1, rule 502.

Uniform Information Practices Act (Modified), see chapter 92F.

 

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