MS HB1460

Self-assessment reports prepared by depository financial institutions are privileged and inadmissible in legal proceedings and not subject to discovery under civil or administrative procedure rules.

Courts or hearing officers may order disclosure of self-assessment reports only after in camera review determines the bank failed to comply with material banking law, did not make good-faith compliance efforts, and caused material harm to customers or consumers.

Self-assessment privilege does not apply to information obtained by regulators through examination, information from independent sources, or evidence existing before the self-assessment and unrelated to regulator compliance requests.

Any party who divulges self-assessment report information in violation of court orders is liable for damages to the bank, and courts may issue contempt orders and sanctions against offending parties or their counsel.

All self-assessment reports protected by this privilege are exempt from disclosure under the Mississippi Public Records Act.