Missouri Laws 408.690 – Nonprohibited disclosure activities
1. Nothing in sections 408.675 to 408.700 prohibits any supervisory agency from exchanging examination reports or other information with another supervisory agency. Nothing in sections 408.675 to 408.700 prohibits the transfer of a customer’s financial records needed by counsel for a government authority to defend an action brought by the customer. Nothing in sections 408.675 to 408.700 shall authorize the withholding of information by any officer or employee of a supervisory agency from a duly authorized committee of the general assembly.
2. Nothing in sections 408.675 to 408.700 prohibits the exchange of financial records or other information with respect to a financial institution among and between the supervisory agencies of the federal Financial Institutions Examination Council and the Missouri division of finance.
Terms Used In Missouri Laws 408.690
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Fiduciary: A trustee, executor, or administrator.
- Interrogatories: Written questions asked by one party of an opposing party, who must answer them in writing under oath; a discovery device in a lawsuit.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Missouri Laws 1.020
- State: when applied to any of the United States, includes the District of Columbia and the territories, and the words "United States" includes such district and territories. See Missouri Laws 1.020
- Statute: A law passed by a legislature.
- Summons: Another word for subpoena used by the criminal justice system.
- United States: includes such district and territories. See Missouri Laws 1.020
3. Nothing in sections 408.675 to 408.700 prohibits the disclosure of any financial records or information which is not identified with or identifiable as being derived from the financial records of a particular customer.
4. Nothing in sections 408.675 to 408.700 prohibits examination by or disclosure to any supervisory agency of financial records or information in the exercise of its supervisory, regulatory, or monetary functions with respect to a financial institution.
5. Nothing in sections 408.675 to 408.700 shall prohibit the disclosure of financial records or information required to be reported in accordance with any federal statute or rule promulgated thereunder.
6. Nothing in sections 408.675 to 408.700 prohibits disclosure if the financial records are sought by a government authority under the Missouri rules of civil or criminal procedure or comparable rules of other courts in connection with litigation to which a government authority is a party.
7. Nothing in sections 408.675 to 408.700 shall prohibit disclosure of financial records to the department of social services pursuant to sections 660.325 to 660.355 or section 570.410*.
8. Nothing in sections 408.675 to 408.700 shall apply to requests made by the department of social services of the state of Missouri to obtain information from the federal parent locator service of the United States Department of Health and Human Services.
9. Nothing in sections 408.675 to 408.700 shall apply to prohibit a financial institution from complying with a properly served summons to garnishee or to written interrogatories exhibited to a financial institution which has been properly summoned as garnishee.
10. Nothing in sections 408.675 to 408.700 shall apply to prohibit a financial institution from complying with a properly served income withholding order issued pursuant to section 452.350 or 454.505.
11. The requirements of sections 408.675 to 408.700 shall not apply when a government authority by a means described in section 408.677 and for a legitimate government investigation is seeking only the name, address, account number, and type of account of any customer or ascertainable group of customers associated with a financial transaction or class of financial transactions.
12. Nothing in sections 408.675 to 408.700 shall preclude any financial institution, or any officer, employee, or agent of a financial institution, from notifying a government authority that such institution, officer, employee, or agent has information which may be relevant to a possible violation of any statute or regulation. Such information may be disclosed notwithstanding any law, or regulation of this state or political subdivision of this state to the contrary. Any financial institution, officer, employee, or agent thereof, making a disclosure of information pursuant to this subsection, shall not be liable to the customer under any law or regulation of this state or political subdivision of this state for such disclosure or for any failure to notify the customer of such disclosure.
13. Nothing in sections 408.675 to 408.700 shall preclude a financial institution, as an incident to perfecting a security interest or proving a claim in bankruptcy, or collecting on a debt owing to the financial institution itself or in its role as a fiduciary, from providing copies of any financial record relevant to such action to any court of competent jurisdiction or government authority. Nothing in sections 408.655 and 408.675 to 408.700 shall preclude a financial institution as an incident to processing an application for assistance to a customer in the form of a government loan, loan guaranty, loan insurance agreement, administering or processing a default on a government guaranteed or insured loan, from initiating contact with an appropriate government authority for the purpose of providing any financial record necessary to permit such authority to carry out its responsibilities under such loan, loan guaranty, or loan insurance agreement.
14. Nothing in sections 408.675 to 408.700 shall preclude a governmental authority from obtaining information that is a part of a public record without regard to sections 408.675 to 408.700 even though such information may have been derived from a financial institution.
15. Nothing in sections 408.675 to 408.700 will preclude a governmental authority acting pursuant to sections 447.500 to 447.585 from obtaining any information required by such sections for the purpose of administering sections 447.500 to 447.585 without regard to sections 408.675 to 408.700; provided however, any information so derived shall not be used for any other purpose.
16. Nothing in sections 408.675 to 408.700 shall apply to a law enforcement inquiry or to a government authority or government employee engaged in a law enforcement inquiry.
17. Nothing in sections 408.675 to 408.700 shall apply to any requests made by any United States agency or department or any official employee or agent thereof authorized to obtain information from any financial institution if such agency or agencies are authorized by the federal Financial Privacy Act of 1978, as amended, to receive such information without compliance with the federal Financial Privacy Act of 1978, as amended.
18. The requirements of sections 408.675 to 408.700 shall not apply to the state auditor or any person appointed by him when obtaining information pursuant to section 29.235.
19. Nothing in sections 408.655 and 408.675 to 408.700 shall apply to requests made by the division of employment security pursuant to chapter 288.
20. Nothing in sections 408.675 to 408.700 shall apply to examinations or audits of preneed trust accounts or joint accounts performed by staff of the division of professional registration when ordered by the state board of embalmers and funeral directors under the provisions of chapter 436.