MS SB2863

Establishes privilege protecting self-assessment reports of depository financial institutions from discovery and admissibility in civil or administrative proceedings, with reports defined as voluntary internal audits or reviews conducted in good faith and not publicly released outside bank regulators or confidentiality agreements.

Creates exceptions allowing court or hearing officer review when: bank waives privilege; report shows material banking law non-compliance without good-faith remedial efforts causing customer harm; or privilege is asserted fraudulently or to avoid disclosure of ongoing investigations.

Permits limited in-camera access to self-assessment reports upon showing of probable cause that an exception applies, with strict confidentiality requirements and liability for unauthorized disclosure of report contents.

Exempts protected self-assessment reports from the Mississippi Public Records Act and establishes burden of proof requirements: banks must prove prima facie privilege; parties seeking disclosure must prove privilege does not apply.

Takes effect July 1, 2012, and repeals on July 1, 2016; self-assessment reports created before repeal date remain protected thereafter.