Ill. Admin. Code tit. 38 § 325.50

Current through Register Vol. 48, No. 45, November 8, 2024

Section 325.50 - Consideration of Requests

a) Standards for the Disclosure of Confidential Supervisory Information. When making a determination with respect to the disclosure of confidential supervisory information, the Commissioner shall consider the following standards:

1) the confidential supervisory information identified in the request is relevant;

2) a compelling need exists;

3) if the requested confidential supervisory information is to be used in connection with an adversarial matter, the lawsuit or administrative action has been filed; and

4) the production and disclosure of the confidential supervisory information is not unduly burdensome to the Office of Banks and Real Estate.

In determining whether to disclose the requested confidential supervisory information, the Commissioner may inquire into the circumstances of any case underlying the request and rely on sources of information other than the requester, including other parties.

b) Time Required by the Commissioner to Respond. The Commissioner, within 15 days, shall determine whether to disclose the requested confidential supervisory information. The 15-day time period shall not commence until the Commissioner receives a complete request. If the request is not complete, the Commissioner shall notify the requester of the required information that has not previously been provided.

c) Notice to Other Parties. Following receipt of a complete request for confidential supervisory information, the Commissioner may notify the state bank, the electronic fund transfer network or switch, the corporate fiduciary, the Illinois bank holding company or the foreign banking office that is the subject of the requested information, unless the Commissioner determines that to do so would advantage or prejudice any of the parties in the matter at issue.

Ill. Admin. Code tit. 38, § 325.50