GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1991

H	1 

HOUSE BILL 580

Short Title:  Banks/Public Service.	(Public)
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Sponsors: Representatives Gamble; and Kahl.
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Referred to:  Commerce.
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April 3, 1991

A BILL TO BE ENTITLED
AN ACT TO DIRECT THE STATE BANKING COMMISSION TO DEVELOP A PLAN TO PROVIDE, AS A SERVICE TO THE GENERAL PUBLIC, INFORMATION ON THE FINANCIAL SOUNDNESS OF BANKS.
The General Assembly of North Carolina enacts:
Section 1. (a) The State Banking Commission shall develop a plan to establish a service that will provide to the general public without charge and upon request, information on the financial health, stability, and creditworthiness of any bank doing business under the laws of and within this State.  The plan shall provide for the service to be administered by and located within the offices of the Commissioner of Banks, pursuant to rules adopted by the Commission for this purpose.  In developing the plan, the Commission shall address the following:
(1)	The development of a rating or other type of evaluation system that will yield information that is meaningful and useful to the general public concerning the financial health, stability, and creditworthiness of a particular bank, while maintaining compliance with laws pertaining to confidentiality of records.  The Commission may apply or adapt to the plan any currently used rating or evaluation system pertaining to banks that meets the requirements of this subdivision;
(2)	Information should be provided in such manner and content as to enhance the consumer's understanding of the financial condition of the bank that is the subject of the consumer's inquiry;
(3)	The development of written materials for dissemination to the general public explaining the service;
(4)	The most efficient and effective means for making the service easily accessible to the general public, including the economic feasibility of facsimile or toll-free telephone services; and
(5)	Any other issues or problems identified by the Commission as pertinent to the establishment of the public service.
(b) The State Banking Commission shall provide a progress report on its development of the plan authorized under this section to the Joint Legislative Commission on Governmental Operations not later than December 1, 1991.  The Commission shall provide its final written report and recommendations on the development of the plan to the Joint Legislative Commission on Governmental Operations not later than September 1, 1992.  The Commission's final report shall include recommendations for legislative action that needs to be taken by the 1993-95 General Assembly in order to implement the plan.
Sec. 2. This act is effective upon ratification.