Illinois Administrative Code
Title 38 - FINANCIAL INSTITUTIONS
Part 1075 - SAVINGS BANK ACT
Subpart Q - DISCLOSURE OF CONFIDENTIAL SUPERVISORY INFORMATION
Section 1075.4050 - Consideration of Requests

Universal Citation: 38 IL Admin Code ยง 1075.4050

Current through Register Vol. 48, No. 38, September 20, 2024

a) Standards for the Disclosure of Confidential Supervisory Information. When making a determination with respect to the disclosure of confidential supervisory information, the Director 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 Division of Banks and Real Estate.

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

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

d) Notice to Other Parties. Following receipt of a complete request for confidential supervisory information, the Director may notify the savings bank or Illinois savings bank holding company office that is the subject of the requested information, unless the Director determines that to do so would advantage or prejudice any of the parties in the matter at issue.

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