2023 Maryland Statutes › Financial Institutions › Title 2 - Commissioner and Boards › Subtitle 1 - Commissioner of Financial Regulation › Section 2-117.1 - Disclosure of Information -- Examinations of Banking Institutions or Credit Unions

(a)    This section does not apply to information relating to publicly adjudicated disciplinary or enforcement actions against banking institutions or credit unions and designated by the Commissioner for access to the public.
(b)    Except as otherwise provided in this article:
(1)    A person, including the Commissioner and an employee of and the attorney for the Commissioner’s office, may not disclose any information obtained or generated in the course of exercising the Commissioner’s authority to examine banking institutions or credit unions under this article; and
(2)    The Commissioner and the employees of and the attorney for the Commissioner’s office may not disclose:
(i)    The name of any debtor of a banking institution or credit union; or
(ii)    Any information about the private accounts with or transactions of a banking institution or credit union.
(c)    The Commissioner and an employee of and the attorney for the Commissioner’s office may disclose the information described in subsection (b) of this section:
(1)    If performing a public duty to report on or take special action about the business of a banking institution or credit union;
(2)    If testifying as a witness in a criminal proceeding;
(3)    If informing any director or authorized officer, employee, or agent of a banking institution or credit union of the results of an examination;
(4)    If providing information to any state or federal agency having supervisory authority over the banking institution or credit union;
(5)    If providing information about a banking institution to the Federal Deposit Insurance Corporation, if the banking institution:
(i)    Is applying for insurance from the Federal Deposit Insurance Corporation; and
(ii)    Asks the Commissioner to do so;
(6)    If providing information about a banking institution to the Board of Governors of the Federal Reserve Bank System or the Federal Reserve Bank of Richmond, if the banking institution:
(i)    Is applying for membership in the Federal Reserve System; and
(ii)    Asks the Commissioner to do so;
(7)    If providing information about a banking institution to the Office of the Comptroller of the Currency, if the banking institution:
(i)    Is applying to convert to, consolidate or merge with, or transfer assets to a national banking association; and
(ii)    Asks the Commissioner to do so;
(8)    If providing information about a banking institution to any other state bank regulatory agency if the banking institution:
(i)    Is applying to consolidate or merge with or transfer assets to an other–state bank; and
(ii)    Asks the Commissioner to do so;
(9)    If providing information about a credit union to a credit union share guaranty corporation, if the credit union:
(i)    Is insured by the credit union share guaranty corporation; or
(ii)    1.    Is applying for insurance from the credit union share guaranty corporation; and
2.    Asks the Commissioner to do so;
(10)    If providing information about a credit union to the National Credit Union Administration, if the credit union:
(i)    1.    Is applying for insurance from the National Credit Union Administration; and
2.    Asks the Commissioner to do so; or
(ii)    1.    Is applying to convert to or merge with a federal credit union; and
2.    Asks the Commissioner to do so;
(11)    If providing information about a credit union to another state bank regulatory agency, if the credit union:
(i)    Is applying to merge with an other–state credit union; and
(ii)    Asks the Commissioner to do so; and
(12)    If entering information into evidence under seal in a public enforcement hearing.
(d)    Subject to subsections (e), (f), and (j) of this section, and notwithstanding any other provision of State law, the Commissioner may:
(1)    Enter into information sharing agreements with any federal or state regulatory agency having authority over banking institutions or credit unions, a federal home loan bank, or any federal or state law enforcement agency, including the Office of Foreign Asset Control, and any successor to these agencies, provided that the agreements prohibit the agencies from disclosing any shared information about a banking institution or credit union without the prior written consent from the Commissioner regarding disclosure of the particular information; and
(2)    Exchange information about a banking institution or a credit union, including information obtained or generated during an examination, with any federal or other state’s regulatory agency having authority over the banking institution or credit union or with any federal or state law enforcement agency.
(e)    Information shared by the Commissioner under subsection (d) of this section may not be disclosed by an agency under federal or other states’ laws governing the disclosure of public information, or by subpoena, discovery, or admission into evidence in private civil litigation or administrative process, without the prior written consent of the Commissioner.
(f)    If the Commissioner receives a record from an agency under an information sharing agreement authorized by subsection (d)(1) of this section and the agency expressly retains ownership of the record, either in writing or by law or regulation, the Commissioner:
(1)    May not disclose the record to any person that requests the record under Title 4, Subtitles 1 through 5 of the General Provisions Article; and
(2)    Shall forward the request for the record to the agency that owns the record for processing in accordance with the laws or regulations governing disclosure of the agency’s records.
(g)    Any provision of Title 4, Subtitles 1 through 5 of the General Provisions Article relating to the disclosure of any information described in subsection (b) of this section shall be superseded by the requirements of this section.
(h)    Except as otherwise provided in this section, all information disclosed by the Commissioner or an employee of or the attorney for the Commissioner’s office to any person as permitted under subsections (c) and (d) of this section:
(1)    Remains the property of the Commissioner; and
(2)    May not be further disclosed by any person without the prior written permission of the Commissioner.
(i)    A person who violates any provision of this section is guilty of a misdemeanor and on conviction is subject to:
(1)    Forfeiture of the person’s office or employment; and
(2)    A fine not exceeding $1,000 or imprisonment not exceeding 2 years or both.
(j)    This section does not authorize the Commissioner to share or exchange information in any way that is prohibited by federal law.