SB 512 — Public Records/Application for a De Novo Banking Charter

Florida Senate - 2021 CS for SB 512 By Senatorthe BurgessCommittee 20-00712-21on 2021512__Banking Aand billInsurance; to be entitled An act relating to public records;

and Senator Burgess 597-02174-21 2021512c1 A bill to be entitled An act relating to public records;

defining the term “personal identifying information”;

1112 Be It Enacted by the Legislature of the State of Florida:

1314 Section 1. Present subsections (5) through (14) of section 655.057, Florida Statutes, are redesignated as subsections (6) through (15), respectively, a new subsection (5) is added to that section, and present subsection (14) of that section is amended, to read:

limited restrictions upon public access.— (5)(a) Except as otherwise provided in this section and except for suchthose portions thereofthat which are otherwise public records,record, the following information received by the office pursuant to an application for authority to organize a denew novostate bankingbank charterunder chapter 658 is confidential and exempt from s.

I of the State ConstitutionConstitution: to the extent that disclosure would:

1. Reveal1. Personal personal financial information.

2. Reveal2. A a driver license or identification card number, a passport number, a military identification number, or any other similar number issued on a government document used to verify identity.

3. Reveal3. Books theand homerecords address of anya individual.current or proposed financial institution.

4. Reveal4. The thepersonal identityidentifying information of a minorityshareholder, shareholdersubscriber, proposed officer, or subscriber.proposed director of the proposed bank when such information has been marked by the applicant as confidential when submitted to the office.

5. RevealAs theused namein ofthis asubparagraph, proposed officer or director, to the extentterm that“personal doingidentifying soinformation” wouldmeans jeopardizenames, thehome proposedaddresses, officer’se-mail oraddresses, director’stelephone currentnumbers, employmentnames withof orrelatives, participationwork inexperience, theprofessional affairslicensing ofand anothereducational financialbackground, institution.and photographs.

6. Defame5. The orproposed causebank’s unwarrantedbusiness damageplan toand theany goodattached namesupporting ordocumentation reputationwhen ofsuch aninformation individualhas orbeen jeopardizemarked by the safetyapplicant ofas anconfidential individual.when submitted to the office.

7. Reveal books and records of a financial institution or registrant.

8. Reveal an applicant’s business plan and any attached supporting documentation.

Section 2. The Legislature finds that it is a public necessity that certain information received by the Office of Financial Regulation pursuant to an application for authority to organize a denew novostate bankingbank charterunder chapter 658, Florida Statutes, be made confidential and exempt from s.

reveal a driver license or identification card number, a passport number, a military identification number, or any other similar number issued on a government document used to verify identity;

reveal thebooks homeand addressrecords of anya individual;current or proposed financial institution;

reveal the identitypersonal identifying information of a minorityshareholder, shareholdersubscriber, proposed officer, or subscriber;proposed director;

or reveal the name of a proposed officerbank’s orbusiness director,plan toand theany extentattached thatsupporting doingdocumentation. so would jeopardize the proposed officer’s or director’s current employment with or participation in the affairs of another financial institution;

defameThe oroffice causemay unwarrantedreceive damagesensitive topersonal, thefinancial, goodand namebusiness orinformation reputationin ofconjunction anwith individualits orduties jeopardizerelated to the safetyreview of anapplications individual;for the organization or establishment of new state banks.

revealAn booksexemption andfrom public records requirements is necessary to ensure the office’s ability to administer its regulatory duties while preventing unwarranted damage to the proposed bank or the shareholders, subscribers, proposed officers, or proposed directors of athe financialproposed institutionbank or registrant;other financial institutions in this state.

orThe revealrelease of information that could lead to the identification of an applicant’sindividual businessinvolved planin the potential establishment of a new bank in this state may subject such individuals to retribution and anyjeopardize attachedtheir supportingcurrent documentation.employment with, or participation in the affairs of, another financial institution.

TheThus, officethe maypublic receiveavailability sensitiveof personal,such financial, and business information inhas conjunctiona withchilling itseffect dutieson related to the reviewestablishment of applicationsnew forbanks thein organizationthis orstate. establishment of state financial institutions.

AnFurther, exemptionthe from public recordsavailability isof necessarythe tobooks ensureand thefinancial office’srecords abilityof toa administercurrent itsor regulatoryproposed dutiesfinancial whileinstitution preventingin unwarrantedthis damagestate topresents an applicant’sunnecessary goodrisk name or impairment of itsharm safetyto and soundness, as well as the safetybusiness andoperations soundness of thesuch financialinstitutions. system of this state.

ReleaseFinally, ofthe anypublic portionavailability of ana applicationproposed thatbank’s revealsbusiness anplan individual’smay personalcause financialcompetitive information,harm governmentto identitysuch verificationbank’s documents,future orbusiness homeoperations addressand couldpresents causean unwarrantedunfair damagecompetitive toadvantage thefor goodexisting namesfinancial orinstitutions reputationthat ofare thosenot individualsrequired orto jeopardizerelease theirsuch safety.information.