On Jun. 4, 2025, LOU LEG reported bill approval by governor, and became Act No. 38.
On May 28, LOU LEG passed bill to limit financial records disclosure.
LOU LEG passed bill SB 92 limiting disclosure by banks of customers' financial records.
Amends LOU LEG 6.333(F)(13) on bank/affiliate financial records disclosure.
Follows LOU LEG May 2025, passed bill on financial records disclosure, see #256530.
Bill Provisions
The existing law prohibits the disclosure by a bank/affiliate of financial records to any person other than the customer related to financial records, with certain exceptions.
This exception is with regard to a subpoena or court order issued in connection with a federal or state court grand jury proceeding or a state criminal investigation.
The bill retains present law and further provides for an exception to a subpoena issued by the state inspector general or his member of staff, as described in law.
Legislative History
On Apr. 14, 2025, bill introduced in Senate; on Apr. 29, 2025, bill passed in Senate.
On Apr. 30, 2025, bill introduced in House; on May 28, 2025, bill passed in House.
Effectiveness
If approved, the bill becomes effective on Aug. 1, 2025.
Jun. 2025 LOU LEG Governor Approval
On Jun. 4, 2025, LOU LEG reported bill approval by governor, and became Act No. 38.
Regulators
LOU LEG
Entity Types
Bank; CNSM
Reference
Act 38, Bill SB92, 6/4/2025; Bill, SB92, 6/2/2025; Citation: LOU LEG 6.333;
Functions
Compliance; Financial; Legal; Operations; Privacy; Record Retention; Reporting; Risk
