VIRGINIA LAW PORTAL

• Code of Virginia
• Virginia Administrative Code
• Constitution of Virginia
• Charters
• Authorities
• Compacts
• Uncodified Acts
• RIS Users (account required)

SEARCHABLE DATABASES

• Bills & Resolutions
  session legislation
• Bill Summaries
  session summaries
• Reports to the General Assembly
  House and Senate documents
• Legislative Liaisons
  State agency contacts

ACROSS SESSIONS

• Subject Index: Since 1995
• Bills & Resolutions: Since 1994
• Summaries: Since 1994

Developed and maintained by the Division of Legislative Automated Systems.

2013 SESSION

• | print version

HB 2237 Voluntary regulatory self-assessments by banks; privilege.

Introduced by: Jackson H. Miller | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED HOUSE:

Voluntary regulatory self-assessments by banks; privilege. Creates a privilege for self-assessment reports of a bank or its holding company, affiliates, and subsidiaries. The privilege makes a self-assessment report not admissible or subject to discovery in civil or administrative proceeding. The privilege shall not apply if it is waived; if the report is disclosed to certain third parties; if it is determined that the privilege is being asserted for a fraudulent purpose or that the report was prepared to avoid disclosure of information in a proceeding that was underway at the time of its preparation, or the report addresses a matter reasonably expected to cause imminent and substantial harm to bank customers or consumers; or if the report is requested by a bank regulator under certain circumstances. This bill is identical to SB 988.

SUMMARY AS INTRODUCED:

Voluntary regulatory self-assessments by banks; privilege. Creates a privilege for information generated from a voluntary regulatory self-assessment conducted by a bank or its holding company, affiliates, and subsidiaries. The privilege applies to any document prepared in connection with a voluntary, self-initiated internal assessment, audit, or review of a bank and its practices, policies, and procedures or the practices, policies, and procedures of the bank's service provider. The privilege makes a self-assessment report inadmissible in any legal or investigative action in any civil or administrative proceeding and exempts it from discovery. The privilege shall not apply if it is waived; if it is determined that the privilege is being asserted for a fraudulent purpose or that the report was prepared to avoid disclosure of information in a proceeding that was underway at the time of its preparation, or it is found that a condition exists that demonstrates imminent and substantial harm to bank customers or consumers; or if it involves information in the possession of a bank regulator and is subject to public disclosure.