MS SB2520

Authorizes the Mississippi Commissioner of Banking and Consumer Finance to join examinations and issue joint reports with the Federal Reserve Bank for bank holding companies (including foreign-owned) with more than $1 billion in assets that own Mississippi state-chartered banks

Prohibits the Commissioner from conducting independent examinations of these large bank holding companies separate from the Federal Reserve Bank

Allows the Commissioner to accept Federal Reserve Bank examination reports in lieu of joint examinations and to join in related supervisory orders

Eliminates examination costs to banks and bank holding companies resulting from the Commissioner's participation in joint examinations

Removes exemptions that previously shielded bank holding companies regulated by the Federal Reserve Board from state supervision, bringing them under the Commissioner's oversight

Joint examination authority provisions expire on July 1, 2022