NC S496

Amends definitions and provisions applicable to commercial banks, including clarifying language regarding non-branch bank business offices, deposits, and Payable on Death accounts.

Expands confidentiality protections for banking records by adding records protected under Chapter 132 of the General Statutes and records related to board of directors meetings and committees obtained by the Commissioner.

Modifies bank holding company registration requirements to apply to holding companies that directly or indirectly control a bank or nonbank subsidiary with an office in North Carolina, and recodifies holding company fee provisions.

Updates mortgage servicer requirements regarding fee assessment and disclosure, specifying that fees must be assessed within 45 days of incurrence and explained to borrowers within 30 days, with exceptions for fees included in periodic statements or meeting certain criteria.

Repeals G.S. 53C-9-405 and 53C-9-406 and Article 18 of Chapter 53 of the General Statutes, and makes technical language corrections throughout the banking law statutes.