2023 Florida Statutes › Title XXXVIII - Banks and Banking › Chapter 655 - Financial Institutions Generally › 655.059 - Access to Books and Records; Confidentiality; Penalty for Disclosure.

655.059 Access to books and records; confidentiality; penalty for disclosure.—
(1) The books and records of a financial institution are confidential and shall be made available for inspection and examination only:
(a) To the office or its duly authorized representative;
(b) To any person duly authorized to act for the financial institution;
(c) To any federal or state instrumentality or agency authorized to inspect or examine the books and records of an insured financial institution;
(d) With respect to an international banking corporation or international trust entity, to the home-country supervisor of the international banking corporation or international trust entity, provided:
1. The home-country supervisor provides advance notice to the office that the home-country supervisor intends to examine the Florida office of the international banking corporation or international trust entity. Such examination may be conducted onsite or offsite and may include ongoing reporting by the Florida office of the international banking corporation or international trust entity to the home-country supervisor.
2. The home-country supervisor confirms to the office that the purpose of the examination is to ensure the safety and soundness of the international banking corporation or international trust entity.
3. The books and records pertaining to customer deposit, investment, custodial, and trust accounts are not disclosed to the home-country supervisor.
4. At any time during the conduct of the examination, the office reserves the right to have an examiner present, to participate jointly in the examination, or to receive copies of all information provided to the home-country supervisor.
As used in this paragraph, the term “home-country supervisor” means the governmental entity in the international banking corporation’s or international trust entity’s home country with responsibility for the supervision and regulation of the safety and soundness of the international banking corporation or international trust entity;
(e) As compelled by a court of competent jurisdiction, pursuant to a subpoena issued pursuant to the Florida Rules of Civil Procedure, the Florida Rules of Criminal Procedure, or the Federal Rules of Civil Procedure, or pursuant to a subpoena issued in accordance with state or federal law. Before the production of the books and records of a financial institution, the party seeking production must reimburse the financial institution for the reasonable costs and fees incurred in compliance with the production. If the parties disagree regarding the amount of reimbursement, the party seeking the records may request the court or agency having jurisdiction to set the amount of reimbursement;
(f) As compelled by legislative subpoena as provided by law, in which case the provisions of s. 655.057 apply;
(g) Pursuant to a subpoena, to any federal or state law enforcement or prosecutorial instrumentality authorized to investigate suspected criminal activity;
(h) As authorized by the board of directors of the financial institution; or
(i) As provided in subsection (2).
(2)(a) Each depositor, borrower, member, or stockholder has the right to inspect such books and records of a financial institution as pertain to her or his loans or accounts or the determination of her or his voting rights.
(b) The books and records pertaining to trust accounts and the deposit accounts and loans of depositors, borrowers, members, and stockholders of any financial institution shall be kept confidential by the financial institution and its directors, officers, and employees and may not be released except upon express authorization of the account holder as to her or his own accounts, loans, or voting rights. However, information relating to any loan made by a financial institution may be released without the borrower’s authorization in a manner prescribed by the board of directors for the purpose of meeting the needs of commerce and for fair and accurate credit information. Information may also be released, without the authorization of a member or depositor but in a manner prescribed by the board of directors, to verify or corroborate the existence or amount of a customer’s or member’s account when such information is reasonably provided to meet the needs of commerce and to ensure accurate credit information. In addition, a financial institution, affiliate, and its subsidiaries, and any holding company of the financial institution or subsidiary of such holding company, may furnish to one another information relating to their customers or members, subject to the requirement that each corporation receiving information that is confidential maintain the confidentiality of such information and not provide or disclose such information to any unaffiliated person or entity. Notwithstanding this paragraph, this subsection does not prohibit:
1. A financial institution from disclosing financial information as referenced in this subsection as authorized in 15 U.S.C. s. 6802 (2010).
2. The Florida office of the international banking corporation or international trust entity from sharing books and records under this subsection with the home-country supervisor in accordance with subsection (1).
3. A financial institution from disclosing the existence of and amounts on deposit in any qualified account of a decedent pursuant to s. 735.303, and from providing a copy of any affidavit delivered to the financial institution pursuant thereto, to a person authorized to receive such information under s. 735.303.
4. A financial institution from disclosing the existence of and amounts on deposit in any individual account of a decedent to a petitioner that filed with the court a petition pursuant to s. 734.1025 or s. 735.203, or to an affiant that filed with the court an affidavit for disposition without administration pursuant to s. 735.301 or s. 735.304.
(c) A person who willfully violates the provisions of this section that relate to unlawful disclosure of confidential information is guilty of a felony of the third degree, punishable as provided in s. 775.082, s. 775.083, or s. 775.084.
History.—ss. 7, 30, ch. 89-229; s. 1, ch. 91-307; ss. 1, 29, ch. 92-303; s. 524, ch. 97-102; s. 1, ch. 97-109; s. 4, ch. 2001-243; s. 1721, ch. 2003-261; s. 9, ch. 2004-340; s. 92, ch. 2004-390; s. 2, ch. 2017-83; s. 1, ch. 2020-110.