(1) Notwithstanding any other provision of law:
(a) Compliance review documents shall be confidential as provided in ORS 705.137 and shall not be discoverable or admissible as evidence in any civil action or administrative proceeding.
(b) Compliance review documents delivered to a state, federal or foreign governmental or regulatory agency remain confidential as provided in ORS 705.137 and shall not be discoverable or admissible in any civil action or administrative proceeding.
(c) A person serving on a compliance review committee or acting at the request of a compliance review committee may not be required to testify in any civil action as to:
(A) The contents or conclusions of a compliance review document; or
(B) The actions taken by a compliance review committee.
(2) This section does not limit the discovery or admissibility in any civil action or administrative proceeding of any documents that are not compliance review documents.
(3) Upon motion by any party, a court shall determine a claim of confidentiality under this section after an in camera review of the materials or information claimed to be confidential. If the court determines that part, but not all, of the materials or information is confidential under this section, the court shall ensure that only the materials or information that is not confidential is disclosed.
(4) The provisions of this section do not affect the ability of a person to claim any privilege that may be provided by law, including but not limited to a claim of privilege under ORS 40.225.
(5) For the purposes of this section:
(a) “Compliance review committee” means a person or persons assigned by a board of directors of a financial institution, or by the management of a financial institution, to test, review or evaluate the conduct of the financial institution, the transactions of the financial institution or the potential transactions of the financial institution for the purpose of monitoring, improving and enforcing compliance with:
(A) Safe, sound and fair lending practices;
(B) Financial reporting to state or federal regulatory agencies;
(C) The financial institution’s own policies and procedures; or
(D) Federal or state statutory or regulatory requirements relating to financial institutions.
(b) “Compliance review document” means any document prepared for or created by a compliance review committee. [1997 c.81 §2; 2001 c.377 §22]Section: Previous 706.660 706.670 706.680 706.690 706.700 706.710 706.720 706.723 706.725 706.730 706.740 706.775 706.780 706.785 706.790 Next
Last modified: August 7, 2008